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Mahindra to fully utilise production capacity of CVs in 2-3.5 tonne range

Mahindra & Mahindra on Tuesday said it is looking to fully utilise its production capacity of commercial vehicles in the 2-3.5 tonne payload category in the current fiscal

M&M draws aggressive 6-year plan for auto and farm equipment segments

Press Trust of India New Delhi

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Mahindra & Mahindra on Tuesday said it is looking to fully utilise its production capacity of commercial vehicles in the 2-3.5 tonne payload category in the current fiscal.
The company may also look at adding some additional capacity as per the market situation.
Mahindra currently rolls out around 17,500 units of vehicles with a payload capacity ranging between 2 and 3.5 tonnes per month from its plants in Kandivali and Chakan in Maharashtra.
"Our current production capacity is 17,500 units a month for such vehicles (2-3.5 tonne). If market demand is there, we may take a call to increase it," Mahinda & Mahindra VP and National Sales Head (Auto Division) Baneswar Banerjee told reporters here.
Mahindra sold around 2 lakh units last fiscal in the segment and aims to do better in the current fiscal, he added.
The company already has a market share of 60 per cent in the segment.
The total market for 2-3.5 tonne payload vehicles stood at around 3.31 lakh units in FY23.
"We expect the segment to grow in the range of 7-8 per cent this year over last fiscal," Banerjee noted.
The company on Tuesday launched the new Bolero MaXX Pik-Up range in the country with prices starting at Rs 7.85 lakh (ex-showroom).
The new product range comes in two series HD and City with multiple payload capacities.
The City range is priced between Rs 7.85 lakh and Rs 8.25 lakh, while the HD range is tagged between Rs 9.26 lakh and Rs 10.33 lakh.
"As a company deeply committed to the 'Make in India' initiative, we take immense pride in pioneering and developing products that are not only customer-centric but also reflect our commitment to contribute towards India's economic growth," Mahindra & Mahindra (M&M) President Automotive Division Veejay Nakra said.
The all-new Bolero MaXX Pik-up range offers features, power, maximum payload capacities and higher mileage, promising that each journey is productive and fatigue-free for drivers, he added.
The range caters to payload capacities ranging from 1.3 to 2 tonne.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Apr 25 2023 | 7:56 PM IST

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