06:54
Geetansh Gupta
The Indian utility major Mahindra & Mahindra (M&M) has announced that it will be unleashing six new vehicles, including a compact sports utility vehicle and a shorter version of its sedan Verito, by the end of the next fiscal. 
The reports quoted Mahindra & Mahindra President (Automotive and Farm Equipment sector) Pawan Goenka as saying "Between now and the end of the next fiscal, there will be six new models from us. These should strengthen the success we have had so far." He said in the beginning of next fiscal, the company will launch a van based on the platform of commercial vehicle Maxximo. "Around Diwali we will have three products, which include the NXR (from Mahindra Reva), Rexton (from Ssangyong) and a compact SUV," Goenka said. The SUV will be on an existing platform, he said without sharing details but added it would be a volume player. "The sub-four metre Verito will allow us to take advantage of the excise duty benefit small cars," he said.
According to reports, the electric car NXR and the Rexton are of strategic importance as they would allow the company to get into eco-friendly technology segment and move up in the premium segment respectively, he added. The company's joint venture with Navistar will also launch a 49 tonne truck, he said. The reports also mentioned that till FY14 the company has announced investment of Rs 5,000 crore on new products and capacity expansion. Goenka said "The industry is hoping that by the second half of this calendar sales will start picking up to about 10 percent." The high interest rates which are still prevalent now are expected to come down, while the rupee related forex situation will also improve, he added mentioned reports.
The reports quoted Mahindra & Mahindra President (Automotive and Farm Equipment sector) Pawan Goenka as saying "Between now and the end of the next fiscal, there will be six new models from us. These should strengthen the success we have had so far." He said in the beginning of next fiscal, the company will launch a van based on the platform of commercial vehicle Maxximo. "Around Diwali we will have three products, which include the NXR (from Mahindra Reva), Rexton (from Ssangyong) and a compact SUV," Goenka said. The SUV will be on an existing platform, he said without sharing details but added it would be a volume player. "The sub-four metre Verito will allow us to take advantage of the excise duty benefit small cars," he said. According to reports, the electric car NXR and the Rexton are of strategic importance as they would allow the company to get into eco-friendly technology segment and move up in the premium segment respectively, he added. The company's joint venture with Navistar will also launch a 49 tonne truck, he said. The reports also mentioned that till FY14 the company has announced investment of Rs 5,000 crore on new products and capacity expansion. Goenka said "The industry is hoping that by the second half of this calendar sales will start picking up to about 10 percent." The high interest rates which are still prevalent now are expected to come down, while the rupee related forex situation will also improve, he added mentioned reports.
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