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New-look Bolero from Mahindra

New Delhi, March 21 (PTI): Mahindra and Mahindra (M&M) will launch a variant of the multi-utility-vehicle Bolero next week which is expected to strengthen its position in the domestic utility vehicle market.

The country’s largest utility vehicle maker is also likely to tie up soon with foreign firms to introduce the sports-utility-vehicle, Scorpio, in Russia, Indonesia and Europe, an official said.

“We will be launching a soft-top version of the Bolero this week. More variants of the vehicle will follow soon, including one in the next three to four months,” the official said.

He, however, declined to give further details.

M&M currently produces about 2,200 units of Scorpio and 700-800 Boleros every month.

The launch of Bolero’s soft-top version at an expected lower price tag than the existing ‘hard-top’ models is likely to boost demand for the vehicle which witnessed sagging sales last year, especially after launch of the more contemporary Scorpio, as well as competition from rivals Toyota Kirloskar and Telco.

M&M had recently launched a stripped down version of the Bolero at below Rs 5 lakh to increase sales.

Meanwhile, the company is readying to drive Scorpio to Russia, and it is currently studying the market, the official said.

“The market research is on. We are testing the vehicle in three locations across Russia,” he said, adding a study for the Indonesian market had just been completed and a decision would be taken soon for launching the vehicle in the south-east Asian nation. Similar studies were also on in Europe, he added.

“We are also doing assembly of Bolero in Georgia and are expecting an order from their security forces,” the official said.

M&M is likely to adopt the strategy of contract manufacturing of Scorpio in these locations in alliance with local partners.

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