M&M rides on hope of turnaround; plans 7-8 variants in 2014

Home-grown auto major Mahindra & Mahindra plans to roll out seven-eight variants this year as it expects a turnaround in the sector after two consecutive years of slump.
"We will introduce 7-8 variants in our portfolio," Mahindra & Mahindra Automotive Division Chief Executive Pravin Shah told reporters here.
Expecting a turnaround in the auto industry in the New Year, Shah said the bad phase has almost bottomed and the industry is likely to return to the growth curve.
"While an immediate turnaround is not expected without certain policy correction and support, the worst seems to be over (for the auto sector)."

The Mumbai-based auto maker had yesterday reported 12.55 per cent decline in sales at 39,611 units in December as against 45,297 sold in the same month a year ago.
M&M's domestic sales stood at 36,881 units as against 42,307 in December 2012, down 12.82 per cent. Exports were down 8.69 per cent to 2,730 units during the month.