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M&M unfazed by US downturn, to launch pick-up trucks by end-2009
Even though the US auto market is down in the dumps, Mahindra & Mahindra (M&M), India's largest utility vehiclemaker, is going fast on its launch plans for its new generation diesel-powered and cleaner-burner SUVs and pick-up trucks in the United States.
It may be recalled that M&M has earmarked nearly Rs. 300 crore for its brand promotion in the US market and the Mumbai-based company will be launching its range of two-door and four-door diesel-powered SUVs and Scorpio-based pick-up trucks in the US early by late 2009, and may bring in its hybrid versions later too. The pickup trucks that are earmarked for the American market will be competitively priced and would be equipped with a world-class diesel technology, which would be not only green but also deliver higher mileage. M&M’s sole distributor, Georgia-based Global Vehicles, is aiming to notch up 25,000 units of pick-up vehicles in the first year of its launch.
According to a senior representative of M&M, currently under development, Mahindra's vehicles will offer a blend of ruggedness, performance and affordability – highlighted by a clean-burning diesel engine built with top-of-the-industry green technology designed to reduce emissions and maximize fuel efficiency. He added the vehicles that would be exported to the US will be of superior quality, performance and reliability, along with outstanding fuel efficiency at an affordable price.
According to media reports M&M has already appointed as many as 350 dealers, who are setting up the front-end infrastructure for the company's foray. Apart from the sales and service network, the company plans to have central and other smaller regional warehouses for parts, as reported by TOI. Global Vehicles, which has put US$65 million into the venture so far, plans to add another US$30 million in marketing costs, reports The Live Mint. The downturn in the US is helping M&M because there are several dealerships available on the cheap.
M&M, which has already notched up record volumes of its tractors in the US, will be the first Indian company to sell its vehicles in that country. It is widely believed that the Indian automaker is banking heavily on the American market, as people are increasingly switching over from bigger to compact, fuel efficient and cheaper vehicles.
It may be recalled that M&M has earmarked nearly Rs. 300 crore for its brand promotion in the US market and the Mumbai-based company will be launching its range of two-door and four-door diesel-powered SUVs and Scorpio-based pick-up trucks in the US early by late 2009, and may bring in its hybrid versions later too. The pickup trucks that are earmarked for the American market will be competitively priced and would be equipped with a world-class diesel technology, which would be not only green but also deliver higher mileage. M&M’s sole distributor, Georgia-based Global Vehicles, is aiming to notch up 25,000 units of pick-up vehicles in the first year of its launch.
According to a senior representative of M&M, currently under development, Mahindra's vehicles will offer a blend of ruggedness, performance and affordability – highlighted by a clean-burning diesel engine built with top-of-the-industry green technology designed to reduce emissions and maximize fuel efficiency. He added the vehicles that would be exported to the US will be of superior quality, performance and reliability, along with outstanding fuel efficiency at an affordable price.
According to media reports M&M has already appointed as many as 350 dealers, who are setting up the front-end infrastructure for the company's foray. Apart from the sales and service network, the company plans to have central and other smaller regional warehouses for parts, as reported by TOI. Global Vehicles, which has put US$65 million into the venture so far, plans to add another US$30 million in marketing costs, reports The Live Mint. The downturn in the US is helping M&M because there are several dealerships available on the cheap.
M&M, which has already notched up record volumes of its tractors in the US, will be the first Indian company to sell its vehicles in that country. It is widely believed that the Indian automaker is banking heavily on the American market, as people are increasingly switching over from bigger to compact, fuel efficient and cheaper vehicles.
1:24 AM
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