Mahindra to launch 8 to 10 car models by March 2012

Mahindra & Mahindra India announced today that looking at the growth prospects the Indian utility maker will introduce 8 to 10 new car models which includes premium sports utility car in across the auto segment by March 2012.

Pawan Goenka, President- Auto and Farm Sectors at Mahindra & Mahindra (M&M) said that the auto company plans to bring in various new cars in the passenger car and commercial vehicle segment, beginning from this year to March 2012.

He revealed that the process has started with Mahindra Genio which was launched recently. There will be 8 to 10 auto mobiles which will debut including new variants, refreshed versions and others.

It is being learnt that the most awaited car from the company's portfolio is the premium sports utility vehicle (SUV), placed above the already existing and highly popular Mahindra Scorpio.

Mr Goenka also said that, the new SUV from the auto company will increase its current portfolio. It will be affixed with new parameters and is all set to be unveiled by the last quarter of 2011. He continued that the auto company has invested around Rs 600 crore on working on the automobile platform. M&M will bring new products and car model versions of Mahindra Maxximo and Mahindra Ingenio platforms. Other than this it will also be bringing the new tippers and trucks from M&M's venture with Navistar.

M&M for the current financial year has posted an increase of 26.22 per cent in its sales. The company sold 2,90,566 car models which was 2,30,189 car models for the same time in the last fiscal year.

Goenka ushered on the future growth and said that the growth has been achieved but seems unlikely to be maintained. The Indian auto saw an increase in its growth last year by 30 per cent which for the next fiscal will be 15 to 18 per cent.

The only way to twist the tale is to bring change in the interest rates and commodity prices after which the growth can be accelerated.

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