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| M&M looks to make US largest export market for SUVs, pick-ups |
| Press Trust of India / New Delhi Aug 28, 2009, 14:03 IST |
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Auto maker Mahindra & Mahindra is looking to make the United States one of the largest export markets once it starts selling its vehicles there next year.
The company, which exported 9,000 units of Sports Utility Vehicles (SUVs) and pick-ups across the globe last fiscal, is looking to better its performance this year.
"We will start exporting our Scorpio platform vehicle in the US markets by February-March 2010. We plan to start with around 2,000 vehicles and hope that the US will be our biggest export market soon," M&M Executive Vice-President (International Operations Automotive sector) P N Shah told reporters on the sidelines of SIAM annual conference here.
He said the company will start its US exports with pick- ups and then move to SUVs.
The company has sold 9,000 units in the international markets in 2008-09 and hopes to improve the number this fiscal.
"While we had exported 13,000 units in 2007-08, our exports fell to 9,000 units last fiscal. This year we are optimistic of improving our sales and bettering last year's performance," Shah said.
He added that the company has a $75-80 million investments planned in the US markets and is open to acquiring some assembly lines there.
M&M is also looking at the African market for its Scorpio range of vehicles, including the Scorpio, Bolero and pick-ups.
"We are working on developing left-hand driving models for the African market, including our Xylo. Almost 70 per cent of the African market is left-hand drive market and we are currently working on developing vehicle for those markets, Shah said.
"We are looking at spending Rs 300 crore for the research and development of the US-bound products," M&M President (Automotive Sector) Pawan Goenka told reporters on the sidelines of the SIAM annual convention here.
To begin with, the company is looking at sending product models as completely built-up units (CBU) to the US market and later take a call on contracting it to somebody or investing in a small plant, he said.
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