Mahindra to launch seven new cars in next 15 to 18 months

Mahindra & Mahindra, utility vehicle maker, is planning to capture the booming domestic car market and for that it has lined up seven new cars in the passenger car segment which are expected to be on road in the next 15 to 18 months.

The new portfolio includes a new premium SUV from the company and two from Ssangyong, the Korean car maker. Other than this is the new model of Mahindra Logan, the mid sized passenger car is also expected to be launched. The company is planning launch its SUVs at a time when honourable Minister Jairam Ramesh commented the Sports vehicle as “criminal” and even suggested that it should be vanished from the Indian roads soon.

The Indian auto major will make an investment of more than Rs 7,000 crore in 2011-13 as it intends to focus on its multi UV and sports UV vehicles, which are company's main products. Mr Rajesh Jejurikar, the chief executive of Mahindra's automotive division, said that the company is planning to work on an array of new models and all these new cars are expected to exhibited in another 15-18 months. Jejurikar also said that, the Indian auto market with the SUV segment is accelerating at a great speed.

He also said that, the company's focal will be in the SUV segment as there are various factors which the company feels will grow at multiple rate in the coming years. The global market for MPVs and SUVs is 40 per cent but in India it still accounts to 15 per cent. He continued that, it will have accelerated growth and it can raise upto 22-23 per cent. The company is expecting a sustainable growth in the coming year's time.

The company will play its cards right in pricing its new cars. Mahindra will launch a newer low priced version of MPV Mahindra Xylo, at the bottom end of the auto market. The new model of Mahindra Xylo will be a compact model which is expected to be priced at Rs 5 lacs. The company is working towards making it a small car under the dimensions given by government. It is expected to be under 4 meters in length and will have 1500 cc engine displacement for the diesel engine and 1200 cc for the petrol engine. The news was confirmed by Jejurikar who said that the company is working on Mahindra Xylo lower models.

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