Mahindra Sets Target for Next 2 Years, Plans to Double Market Share
Published On Aug 22, 2016
Mahindra is planning to expand its stronghold in the commercial vehicle segment and has chalked out new strategies for the next couple of years. Apart from an ambitious goal to double its market share, the popular domestic commercial vehicle maker is also aiming to be a full-range player in the CV arena by entering newer segments very soon.
Mahindra Truck and Bus Division (MTBD), part of the Mahindra Group, has come forth with a detailed plan for the next two-three years. The company has set several targets such as doubling its market share in the medium and heavy commercial vehicles segment to 8 percent, starting exports of heavy trucks to Africa, and garner a presence in all commercial vehicle categories starting from 3.5 tonne to over-40 tonne product segments. Mahindra has a market share of 12 percent in the 3.5-7.5 tonne segment.
Mahindra is also targeting to strengthen its impression in the segments where it already has a presence, and ensure a deeper footing into the current markets.
Throwing more light on the new strategies, Mr. Nalin Mehta, Managing Director, MTBD, said, “We are determined to be a full-range player in the commercial vehicle segment. We are already there in the medium and heavy truck segment. We are also developing products for the 8-16 tonnes category. Besides, there is a plan to upgrade the current range of light commercial vehicles.”
The company will roll out intermediate commercial vehicles (ICVs) and medium commercial vehicles (MCVs), upgrade its current range of light commercial vehicles (LCVs) and also consolidate the products in its heavy commercial vehicles (HCVs) segment under its current plans. Mahindra believes that these new product launches coupled with an expanding sales network will significantly increase the company’s market share in the next few years.
The CV maker is going high on exports, and will be shipping trucks to Africa, owing to the country’s immense business potential.
Regarding the current slowdown in the CV industry, Mr Mehta remained optimistic and said, “Normally, the buying activity is not that strong during these months. Post-monsoon, we expect the demand to get better again.”
After the successful launch and the immense popularity of the new Blazo series and the good acceptance of the SCV Jeeto, Mahindra is surely riding on the success of its products and the company is justified in its own rights to dream bigger and better.