M&M’s truck unit unleashes new road runners, Auto News, ET Auto

M&M’s truck unit unleashes new road runners, Auto News, ET Auto

Mumbai: Having outpaced the market in 2018, Mahindra Truck & Bus, Mahindra Group’s commercial vehicle division, aims to sustain its double-digit growth momentum in 2019 with 30-35 new product interventions to participate in the larger customer base.

The company last week launched intermediate commercial vehicle Furio in India which will make Mahindra a full-range commercial vehicle maker in the country.

The company is eyeing a market share of 8-10% in the fast-growing intermediate commercial vehicle segment to break into the top three heavy commercial vehicle makers in the country.

Developed with an investment of Rs 600 crore, Mahindra will be rolling out 21 different products under the Furio range, which has been designed and developed by Italian design house Pininfarina.

Rajan Wadhera, president automotive sector, Mahindra, told ET the launch of Furio bridges a critical gap in the company’s portfolio and it will enable the company to expand the addressable market.

“We are banking on offering customer value proposition, with focus on maximising earnings and ensuring peace of mind of our customers. Our strong technological acumen and ability to gather and process customer insights have helped us devise the best product with a guaranteed higher profit,” added Wadhera.

Mahindra registered a growth of 25% in commercial vehicle sales in April-November of FY19; a fourth of overall commercial vehicle space. But it remains a modest player in the intermediate and heavy commercial vehicle segment, which is a big thrust area for 2019 with Blazo X and Furio ranges.

With growing volumes, the company has already managed to break into positive EBIDTA for several months and it is on the verge of annual break-even in the coming year, said persons in the know. Being the challenger in the space to Tata Motors and VE Commercial Vehicle, Mahindra made a bold marketing move of declaring to its potential buyers to “Get More Profit’ from Furio or ‘Give the Truck Back”.

The company is offering an industry first 5 years/ 5 lakh kms free annual maintenance contract along with transferrable warranty.

The expanding product range is being ably supported by growing sales, service and spares network with over 100 3S dealerships, 184 authorised service centers, 2,900 roadside assistance points, a spares network of 1,600 retail outlets and 37 strategically located Parts Plazas, claims the company.

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