Auto major Mahindra and Mahindra (M&M) today said it is aiming to gain a "respectable" market share in heavy commercial vehicle space and will further expand its presence in the utility vehicles segment.
"Being a nascent player, we have a very low marketshare of 2.6-2.7 per cent in the HCV segment as of now, but we are aiming to double it to a respectable level of 5-6 per cent," M&M executive director Pawan Goenka said here today.
He said the company was also pushing for higher market in utility vehicles segment with the new launches lined up.
"In the UV segment our present market is 35-36 per cent, but we want to gain another 4-5 per cent," Goenka said.
M&M has lined up the launch five more vehicles in the automotive segment in the current financial year as it expects industry sales to pick up in second half of the year.
The largest manufacturer of utility vehicles would be infusing Rs 300 crore in new products in the new 9-16 tonne categories and the rest would be deployed in modernising existing models, Goenka said.
He said on an average the company spends Rs 2,500 crore as annual capex.
M&M was unable to sell enough electric cars in the domestic market and has decided to begin export from March-April, 2016 to the UK.
Except exporting 25 electric vehicles branded as E20 to Nepal, it does not export so far.
Goenka said the company was also working on four-door version of electric cars and was seeking greater push from state governments to make the vehicle a success in India.
Meanwhile, the dairy foray from the group would remain regional with Madhya Pradesh as of now.
"Currently, it is with fresh milk, but we have plans to include value added products like butter and cheese. But, ice-cream is not in the pipeline," Goenka added.
