Mahindra Trucks and Buses to invest Rs 500 crore on commercial vehicle development

Despite arrest and almanac abrogating advance (nearly 40 per cent) in the barter business, Mahindra Trucks and Buses (MTBL) is advance Rs 500 crore in the abutting two to three years on artefact development. MTBL has reaffirmed its absorbed on advance Rs 300 crore to analyze fresh artefact curve in the ablaze bartering agent (LCV), average bartering agent (ICV) and average bartering agent (MCV) segments besides accession advance of Rs . 200 crore to strengthen the accepted artefact agency of trucks and buses including the refurbishing of absolute LCVs. The aggregation is all set to advertise fresh articles TRACO 49 and TRUXO 37 at accessible Auto Expo 2014 at Delhi.

Speaking on this, Rajan Wadhera, arch controlling – technology, artefact development & sourcing & administrator and arch Mahindra Trucks and Buses Limited, said, “We will be advance a a absolute of Rs 500 crore in the abutting two to three years on artefact development. In future, we will not anatomy any collective adventure for barter business. The ICV articulation is growing rapidly and we are absorption on this category. The admeasurement of the bazaar is about one lakh units annually and can abound up to 1.5 lakh units. The Auto Expo will accommodate us with the befalling to do this through our assorted artefact displays. In addition, our affairs to access fresh segments like ICV and MCV besides commutual and advance our absolute ambit are additionally on a close footing. “

At the Auto Expo, MTBL will additionally advertise TORRO 25 Tipper with 9-speed manual and bogie abeyance and LCV amount articles like Loadking ZOOM Container Barter and Tipper besides the Tourister COSMO Bus.

Company’s account arrangement is of 1,856 blow credibility and spares arrangement alcove 575 retail credibility to added advance the ability on important trucking routes beyond the beyond and beyond of India.

He added, “Our 50 per cent sales appear from the echo orders. Now, our connected accomplishment is to access the bazaar share. Relatively, we are fresh in the barter business. Normally, it takes 5 o 7 years accomplish appulse in the market. But our affairs are hit by recession due to recession. The barter business has already registered abrogating advance of 40 per cent in the aftermost two years. The Indian barter accomplishment business is abundant developed now and we do not charge any alien abutment for engineering. Mahindra is able-bodied placed in HVC articulation and we are now refurbishing in LCVs.”

Nalin Mehta, managing administrator & CEO, Mahindra Trucks and Buses said, “Despite astringent recessionary bazaar conditions, MTBL is alluring itself to a ample area of buyers which includes top agile owners pan India beyond segments and amount applications. Our exhibits at the Auto Expo will added reinforce our chump centricity in the anatomy of fresh articles and offerings.”

Mahindra & Mahindra (M&M) had partnered with Nort American aggregation Navistar International Corporation for the bartering agent segment. But in December 2012, M & M bought its accomplice from their two collective ventures Mahindra Navistar Automotives Ltd (MNAL) and Mahindra Navistar Engines Ltd (MNEPL) for accomplishment of barter and buses, and engines for Rs 175 crore. Mahindra’s accepted bazaar allotment in LCV is 10 per cent and HCV is 2.8 per cent. In the year 2013, it has awash 11, 989 vehicles. MTBL’s anniversary about-face over in the FY2012-13 was Rs 1200 crore.

SG22