Mahindra & Mahindra bets big on scooters

 Mahindra & Mahindra (M&M), which recently forayed in the two-wheeler segment, is optimistic about the opportunities that the scooters segment presents, a company official said.

"The scooter industry is growing at a very fast rate and we see a good demand growth", M&M Vice President (sales and customer care Dharmendra Mishra told reporters here today.

"We expect a double-digit growth in scooter industry this fiscal", he added.

The scooter industry had almost become dead a few years back, but it is reviving now. The demand for scooters would emanate from the rural and semi-urban regions, he said.

The company had also ventured into the motor-cycle segment with a 125 cc engine displacement model and has started to export two-wheelers to South East Asia and African countries in a small way.

With a capacity of five lakh units per annum, the company sold 1.70 lakh units last year, Mishra added. The company enjoys nearly 10% market share in the two-wheeler segment.