Mahindra will introduce six new vehicles by the end of 2012- Powen Goenka reports.
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. 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. Asked about investments for the next fiscal, he did not share the exact number but said till FY14 the company has announced investment of Rs 5000 crore on new products and capacity expansion. Commenting on the market situation, Goenka said :"The industry is hoping that by the second half of this calendar sales will start picking up to about 10 per cent." 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.