M&M plans to double exports of SUVs

Auto major Mahindra & Mahindra (M&M) is planning to double its exports of sports utility vehicles (SUVs) to 6,000 this financial year. This includes 5,000 Scorpios and 1000 Boleros.

"In the first six months of the current financial year (April-September), SUV exports grew by 160 per cent to 2,600 vehicles compared to 1,000 vehicles in the corresponding period of the previous year. By the end of the year, we are targeting total exports of 6,000 SUVs," said Pawan Goenka, president (automotive sector) and member of the group management board. The company expects the demand from Russia, western Europe and Malaysia to go up. Likewise, exports to the Middle East, Brazil, Argentina, and South Africa is also expected to grow. M&M has exported 100 vehicles to Russia, 600 each to Italy and Malaysia, 300 to South Africa, and 100 to Uruguay so far this year.

"The company would set up a completely knocked down plant in Russia and Malaysia once its exports reach 500 vehicles a month in these countries," said Goenka.

M&M targets double-digit growth in sale of SUVs within the country this year. M&M' total sales (excluding tractors) in September stood at 13,839 vehicles compared to 13,093 vehicles in the same month last year. Sales of Scorpio surged 37 per cent in September to 3,164 units from 2,313 units in the corresponding month last year.