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Mahindra Two Wheelers, part of the $16.2-billion Mahindra Group, plans to expand output, in the backdrop of rising demand for its Centuro model and with six to eight vehicle launches over the next two years.
The company also says it is open for new tie-ups for branding and technology.
In October, the Group said it would shift management of the loss- making two-wheeler segment to its automotive and tractor businesses, which comes under Pawan Goenka, executive director and president of its 'automotive & farm equipment sector'.
Marginal growth
Goenka, here recently to participate in an automobile meet, said the two-wheeler industry showed marginal growth, unlike the fall in the four-wheeler segment. "Since we are an entry- level player (in the former segment) right now, the industry size is not important; our growth is. Our last offering has done extremely well and we have a waiting list," he said.
The company is selling about 24,000 vehicles a month and would expand to 45,000 a month, a good beginning, he added. Manufacturing capacity is up to 1,200 vehicles a day from the 500-600 when it started. By end-March 2014, it expects to increase to 1,700-1,800 vehicles a day.
November saw 127 per cent growth to 24,245 units as compared to 10,676 units a year before.
On coming vehicle launches, he said they were looking mainly at products for the volume segment. "We are going to launch a slew of new products in the next two years and hopefully the Centuro will give the momentum we need and make the company a significant two-wheeler player in India," said Goenka. In six weeks of the motorcycle launch, the company received a little over 30,000 bookings for the Centuro.
The plan is to have products in both the motorcycle and scooter categories; offerings will be balanced. A new scooter launch is scheduled for 2014-15. In motorcycles, the focus will be on the mass segment, of 100-125cc.
"If Mahindra is going to be in any business vertical, we will be a significant player," said Goenka, who refused to disclose their target for market share.
On whether they were open on joining hands or for acquisitions to boost the two-wheeler segment, he said: "Anything is open to us. We don't have a clearly defined boundary that we will not have a tie-up or will have. We always look at opportunities to tie-up for brand and technology; if we get the right opportunities, we will tie up. At any given point of time, we are in dialogue for all our businesses."
