Mahindra To Launch New Vehicles In India
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Mahindra & Mahindra will launch new vehicles to catch the growth momentum after it did Xylo and refreshed Scorpio this year said by Keshub Mahindra, Chairman of Mahindra & Mahindra.
The company addressed on its 63rd annual general meeting of the company, Mahindra said last fiscal was very difficult. Any internationally big automobile companies suffered heavily. However, Mahindra managed to augment its growth by launching new models and would be banking upon new products to maintain the sales momentum.
The recently launched Mahindra Xylo and refreshed Scorpio have received encouraging response in the market. The company has sold 15,000 Xylos since its launch, he said.
Mahindra did not tipped what type of new launches has he considered to launch and the annual meeting report has said it would be launching new products to address previously unaddressed market segments.
He informed shareholders that the company is developing new businesses through its subsidiaries.
He said the company has made looses in the venture with Renault. The company has a 5149 per cent partnership with Renault and makes Logan cars. The company has also lost money in the tractor business in the US, he added.
[Source: ET]
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Posted: July 30th, 2009 under Cars.
Tags: mahindra and mahindra, mahindra new launches
