India’s home grown SUV master, Mahindra and Mahindra expects good growth in the SUV segment. The Indian automobile industry has been struggling under slumped market conditions over a year now, but the Indian auto major is hoping for a much needed positive change in the situation. This change of fortunes in the Indian car market is hopped to come based on more stable economic situation in the current fiscal and a better political scenario.
Mahindra and Mahindra has revealed that the company has already started registering better demand and sales growth from the month of March, and this year’s first quarter witnessed the company post about 25 percent growth as compared against the same period, last year. The Indian auto major further said that not only the urban and semi urban markets of India, but the rural markets are also drawing good sales figures. It said that on top of that the small towns are the latest growth generators for the Indian car industry and the state of Uttar Pradesh is itself contributing 12 percent of the company’s total sales volume all over India.
In the year 2013, Mahindra & Mahindra managed to sell a total of 4.70 lakh vehicles, out of which about 53000 units were sold only in the UP region.
To make it even better for Mahindra & Mahindra, in a situation when the new cars are taking the cherry from the cake, Mahindra’s renewed growth is coming from its veteran SUV models, namely Scorpio and the Bolero. The company is bouncing back with good growth backed by the strong and increasing demand for its popular SUVs Bolero and Scorpio. The more than a decade old Scorpio has even emerged as the top selling SUV once again by beating the much newer popular SUV models’ sale figures, such as the Ford EcoSport and the Renault Duster.
Mahindra’s popular commercial vehicles such as the like Bolero Pickup truck and the Bolero Maxi Truck Plus have also grown in their demands in the market. Mahindra has witnessed 18 percent growth in the passenger vehicles segment, while in the commercial vehicle segment the company has grown by 38 percent.
Mahindra & Mahindra’s Chief Sales and Customer Care Officer of the Automotive Division, Arun Malhotra said that through the year, Mahindra’s SUV market share in India has declined from 52 to 45 percent but in Uttar Pradesh the decline registered was only about 2 percent. Mahindra still enjoys a massive 72 percent share in UP in the SUV segment.
Mahindra & Mahindra has invested heavily to improve the sales and service network in the UP. The company currently has around 197 service centers across 72 districts of the state and around 160 dealership showrooms. Malhotra further said that the company is focusing on expanding the service outlet network in the state of UP to offer enhanced quality service to the valued customers.
Mahindra & Mahindra is currently working on a range of new products to beat competition and boost sales.