M&M Increase Sales Target

Mumbai: Mahindra and Mahindra (M&M) are now targeting to reach the one million sales mark in five years. The first million was reached in 50 years, while the second million came in 10 years. This utility vehicle (UV) major company launched its two-millionth vehicle last month. Mahindra now has an aim of selling one million vehicles in the next five years. This will account for the company''s domestic and international sales. Its main aim is to build the brand name (for M&M). In South Africa, the company has been successful in building that image. The company''s goal was to be known as a global sport utility vehicle (SUV) manufacturer and not a small car maker.

In line with its aspirations, the company is expanding its international bases by establishing more assembly lines, directly exporting to more number of countries and also through the inorganic route. The UVs account for the company''s 82 per cent overall sales, with light commercial vehicles (LCV) and three-wheelers constituting 9 and 6 per cent, respectively. The company will unveil a premium SUV, a multi-utility vehicle-Ingenio, LCV''s and heavy-duty trucks and trailers from its joint venture (JV) plant in Pune in collaboration with International Truck and Engine Corporation (ITEC), and passenger cars from Chennai and Nashik in a JV with Renault.