Mahindras set to drive into Spain, Portugal

Utility vehicle major Mahindra & Mahindra will make a foray into Spain and Portugal starting May this year with the Scorpio, which will be sold as Mahindra Goa, and Bolero.

The company has appointed Sino Motors to be its importer and distributor in Spain, which is one of the large markets in Europe for sports utility vehicles (SUVs).

"The annual demand for SUVs is around 1,20,000. For pick-up trucks, it is around 25,000 units," said a company official. Apart from products global automobile majors, Chinese and Korean brands are also present in Spain at present.

The company official refused to discuss the possible market share that M&M expects to target in Spain and Portugal.

"It is a price sensitive market and we have ambitious plans," said P N Shah, executive vice-president - overseas operations (automotive) for M&M.

M&M that has already established its presence for its products in neighbouring markets like France and Italy said that the Spanish market is bigger, for specific products like SUVs and pick-ups.

M&M vehicles are sold in more than 15 countries outside India, including most Saarc countries, except Pakistan. The company had recently entered South Africa and had earlier established its presence in a few Latin American markets too.

The company had exported around 3100 vehicles last year, though export target for the current year is not available.