Mahindra Two Wheelers goes bullish on exports

Mahindra Two Wheelers goes bullish on exports

Mahindra Two Wheelers goes bullish on exports

Auto major Mahindra & Mahindra’s  two-wheeler arm, Mahindra Two Wheelers, on Wednesday announced its strategy to expand in foreign markets to increase sales, and also enhance its brand presence.

The company, which launched its new 110 cc scooter ‘Gusto’ here, said that it has already begun exporting the product to Nepal and Sri Lanka, and is also looking at other markets.

Talking to Deccan Herald, Mahindra Two Wheelers Chief of Operations Viren Popli said, “We see lot of potential in the overseas markets, especially Nepal and Sri Lanka, where the Gusto is already being exported.

Apart from that, we are also looking at certain African and Latin American markets, where we are likely to export our other products as well.”

The company, though struggling with only around 3 per cent market share in the massive Indian two-wheeler market, said that it is bullish about growing in the market, and announced robust plans for the future.

“The size of the Indian market is pegged at around 16 million two-wheelers (all categories) in annual sales. We aim to increase our share here to a modest 5-7 per cent in the next two years,” Popli said.

“We will launch a product (scooter or motorcycle) every six months, depending on the needs of our customers.”

Mahindra is expected to launch its 300 cc offering, Mojo, in the coming months. Mahindra’s plant at Pithampur, near Indore, has an installed capacity of 800,000-10,00,000 units a year.

Presently, it is operating at only 25-30 per cent capacity, but depending on the rise in demand, the company would increase output, Popli informed.

“The competition is dominated by established brands. We must understand customer needs and provide them with choices.

We will promote our motorcycle offerings in the rural and semi-urban areas, while scooters will be targeted at urban markets,” Popli said.
The Gusto is priced from     Rs 48,400 (ex-showroom Bengaluru).
DH News Service