M&M eyes 50% share in small cargo vehicle mkt

Mahindra & Mahindra is eyeing 50% marketshare in the domestic small cargo vehicle segment.

The company's marketshare as on March 31, 2006 was 33% of the industry total which stood at 1.5 lakh units. The market is expected to grow at 21% in the present fiscal.

To increase its share in the market, M&M today launched two new variants - MaXX Maxi truck priced at Rs 3.44 lakh (ex-showroom, Bangalore) and Bolero Pick Up FB priced at Rs 4.53 lakh (ex-showroom, Bangalore). These vehicles are presently available in Pune, Hyderabad and Bangalore. The company aims to launch these vehicles across the country in two weeks time, G Seshadri, VP(sales) of M&M, said.

With these two models the company will directly compete with Tata Motors' mini truck - Tata Ace, which is leading the market. The total market for small cargo vehicles (price range of Rs 2.4 lakh to Rs 4.25 lakh) is likely to touch 2.5 lakh units by 2010 and M&M aims to become the market leader, he said.

"We have launched these two new models as part of our strategy to bring in new variants regularly to meet market needs," Seshadri said.

The MaXX Maxi truck has been placed in the segment between the large three-wheeler and the big pick-ups. It sports a strong chassis and fitted with DI turbo engine. It offers 16-km per litre of fuel and higher power, speed and carries load upto one tonne. The Bolero Pick Up FB is having a new generation chassis, strong axle, heavy duty wheel rims and radial tyres and driven by the powerful 63 HP Di turbo engine.