M&M to launch 6-7 new variants next fiscal

Auto major Mahindra & Mahindra today said it will launch six-to-seven new variants of vehicles across various segments during the next fiscal.

The company also said it plans to formally start production of pick-ups in the US market by the beginning of April 2010.

"Next fiscal we will be launching 6-7 new variants of our existing models. The new variants will cover all segment including utility vehicles, commercial vehicles and three wheelers," M&M President (Automotive) Pawan Goenka told media on the sidelines of JK Tyre Baja SAE India 2010 event, where students duke it out in self-designed cars here.

He said the new variants are intended to give a boost to the company's strategy to grow across various segments.

The company had earlier announced plans to launch a sports utility vehicle (SUV) on a completely new platform by early next year. "During the auto-expo in Delhi earlier this month we had launched two models built on completely new platforms including the 'Maximo'. We believe that the Maximo, Geo and our recently launched heavy trucks will act as volume driver next fiscal, while new variant launches will support this," Goenka said.

M&M is also going ahead with the formal launch of production in the US by early April 2010. "We are waiting for homologation of our pick-ups to be completed in the US and we believe this will be done by the end of March. Then we will be ready to roll out the first vehicles by early April."

Regarding the company's plans of growth Goenka said: "Till December end we have registered a total sales of 2.25 lakh units and in the January to March quarter, which is generally known for a rise in volume sales, we expect a further growth."

"Next fiscal, we expect to maintain our market share and growth along with the industry average."

The company had earlier said it had suffered production losses to the tune of 5 per cent in the October-December quarter due to supply constraints.

Goenka said the situation is now much better. "There is still some supply constraints but we expect the situation to be back to normal by April."