Record 125,000 LCVs plying on Indian roads
Mahindra Truck and Bus Division (MTBD), a part of the $16.9 billion Mahindra Group, has announced the roll-out of its 15,000th heavy commercial vehicle from its state-of-the-art Chakan plant. The company also reached a sales milestone of 125,000 light commercial vehicles (LCVs) running on Indian roads.
As part of its plan to put the commercial vehicle business on a high growth trajectory, MTBD is investing Rs. 700 crores to develop new ICV and LCV models. With a portfolio ranging from 3.5 T to 49 T, the company is set to become a full-range CV player within the next two years.
Speaking on the occasion, Mr. Rajan Wadhera, President & Chief Executive – Truck & Power Train, & Head – Mahindra Research Valley, Mahindra & Mahindra Ltd., said: “The CV industry has seen an upturn over the last few quarters which is a good sign. At Mahindra we have been steadily growing and are fully committed to our commercial vehicles business and taking aggressive steps to become a complete CV range player. With planned investments and enhancement of our product portfolio, we look forward to ride the growth trajectory”.
Mr. Nalin Mehta, Chief Executive Officer, Mahindra Truck and Bus Division, Mahindra & Mahindra Ltd., said: “The roll-out of our 15,000th truck marks another important milestone for us, as we now have over 6,000 customers using our trucks for various applications across the country with nearly 30% of our customers opting for repeat purchase. Additionally, MTBD boasts of over 1.25 lakh LCVs on Indian roads. This is a clear vindication of our engineering excellence and brand Mahindra prowess. At MTBD, customer centricity is at the epicenter of our business and our rapidly expanded aftersales network to reach out to the last mile of our customers bears testimony to this”.
M&M to infuse $106 million for truck, bus output expansion
The fledgling truck and bus business of Mahindra and Mahindra Ltd., part of the $16.9 million Mahindra Group, has committed fresh $106 million investments in the business to expand its footprint in the light and intermediate commercial vehicle segment and become a full-range player in the Indian market.
With the demand scenario improving, the company is also fast approaching operation profitability.
The announcement was made by the company at the roll-out of its 15,000th heavy truck from the Chakan plant near Pune.