Mahindra & Mahindra Financial Services standalone net profit declines 36.78% in the March 2017 quarter
Mahindra & Mahindra Financial Services consolidated net profit declines 32.36% in the March 2017 quarter
Home-grown auto major Mahindra & Mahindra's just-launched passenger carrier small commercial vehicle, Jeeto Minivan, offers a solution for millions of three-wheeler customers to upgrade, a company official said.
The Jeeto Minivan, starting at Rs 3.42 lakh (ex-showroom Chandigarh for BS IV diesel variant), which was launched in the city today, will also benefit a range of customers including micro van customer or a mini van customer, company's Senior General Manager (commercial vehicles and rural sales), Rajesh Gupta told reporters here.
"For the first time in this category, a solution for three-wheeler customer is coming in a very significant way and there are millions of such customers who will like to upgrade," Gupta said.
He said that M&M at this point of time is offering the widest range in commercial vehicles.
"At the same time, in small commercial vehicles also we have the widest range. With the launch of Jeeto Minivan, we are getting into a new category, which is between a wide body diesel three-wheeler and a mini van, which is best suited for urban and semi urban modes of transportation and will cater to last mile connectivity, contract and stage carriage use for tour/travel purposes and intra-city people movement," he said.
Gupta said that the Jeeto Minivan will be available in two body forms, hard top and semi hard top, and three fuel variants -- diesel, petrol and CNG.
Replying to a question, Gupta said, "If we compare Q1 of this fiscal with the previous one, we have seen an upswing of volume both in case of personal and commercial, though there were impact of some bit of BS-III for some time and later on GST related factors, still besides those factors in place, we have seen lot of positivity both in terms of number and the growth trajectory."
In the commercial category, the company recorded sales of 2.39 lakh units last fiscal, Gupta said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)