Mahindra and Mahindra plans big-ticket launches
Mahindra and Mahindra is planning some big-ticket launches once the automotive sector recovers in June-July from the second wave of the Corona pandemic.
The company expects the tractor sector to recover even earlier.
The company is preparing to launch 23 products, including nine models in the SUV segment and 14 models in the light commercial vehicle (LCV) segment, by 2026.
The company will take the wraps off the XUV700 in 2021 and the new Scorpio too. The five-door Thar, the all new Bolero and the new XUV 300 along with two other SUVs codenamed W620 and V201 will be launched between 2023 and 2027. The company will unveil two electric vehicles between 2025 and 2026, besides having electric powertrains for XUV700 and the new XUV300.
The upcoming models in the commercial vehicle segment include electric vehicles in the last mile mobility segment. In small commercial vehicles, the company will launch an urban pick-up range as well as a proper pick-up range, including the new Bolero Compact Pick Up.
Anish Shah, MD and CEO, Mahindra Group, said localised lockdowns and supply chain issues will lead to a complete wipeout of the first quarter sales in 2021-22.
“But by July, things will stabilise. The rural market will bounce back in June itself. The passenger vehicle segment will take a month or two to recover. But once it recovers, it will stage a strong comeback. There are no cancellations yet of bookings,” said Shah.
However, the three-wheeler segment will take time to recover. “Passenger mobility in three-wheelers has been hit and will not recover soon. Besides, there is a fear factor among customers to take out margin money,’’ said Rajesh Jejurikar, executive director, auto and farm sectors, M&M.