Mumbai, Apr 18 2010 Mahindra & Mahindra (M&M) two wheelers a new entrant in the 2 wheeler industry is slowly and steadily becoming popular in the 2 wheeler market and has already sold 10,000 scooters in India.Mahindra & Mahindra (M&M) is eyeing a double-digit growth in its two-wheeler business in the next two years and will also explore the inorganic growth route for expansion, a senior company official said.
“We are growing and will continue to grow to make M&M a strong brand in the two-wheeler segment. We are targeting a double-digit growth in the next two years by grabbing opportunities which will enable us to grow faster,” Mahindra & Mahindra (two-wheeler sector), President, Anoop Mathur, told PTI here.
Mahindra took over the two-wheeler business of Kinetic Motor in 2008, has already launched three 125-cc scooters–two power scooters, Mahindra Rodeo and Duro–and the Mahindra Flyte. The company is targeting men for the Rodeo, while the Duro is targeted at the entire family. The Flyte is for women commuters. The company has sold 70,008 units in FY 10. “We have already achieved a milestone in the two-wheeler segment after selling 10,000 units within four months of launch. We are very optimistic about the future,” Mr. Mathur said.
Mahindra two wheelers entered when Bajaj Auto planned to exit scooter segment. The main players in the automatic scoter segment Honda will now face competition from the new entrants like the Rodeo, Duro and TVS’s new Wego.The company presently enjoys an 8% market share in the scooter segment and is looking to increase it this year. The company has a capacity to make 5-6-lakh units per year and plans to increase this in the future. The company presently has 350-dealers pan-India for its two-wheelers and plans to add 50 more this fiscal.
"We have been managing the current demand with the present capacity, but as volumes increase over the next two-years, we too would have to add capacity," Mathur said.
The company presently has 350-dealers pan-India for its two-wheelers and plans to add 50 more this fiscal.
"We are eyeing the small towns where the potential is immense. We plan to add at least 50 more dealers, primarily in these locations, by FY 11," he said.
M&M, which is currently exporting two-wheelers to Bangladesh, Nepal and South Asia, is eyeing more global markets with a view to become a global player.
"We will be exporting our two-wheelers to more countries in the coming days–we want to emerge as a global player," he said.