M&M sees no signs of slowdown
Mahindra & Mahindra (M&M) is looking at maintaining leadership position in the fast growing sports utility vehicle segment in the current fiscal with demand remaining robust for its model range, according to the group CFO Manoj Bhat.
M&M PAT rises 56% at Rs 3,683.87 cr
New Delhi Mahindra & Mahindra (M&M) is looking at maintaining leadership position in the fast growing sports utility vehicle segment in the current fiscal with demand remaining robust for its model range, according to the group CFO Manoj Bhat.
The company, which is sitting on an order backlog of 2.92 lakh units for sports utility vehicles (SUV), also plans to ramp-up production capacity by the end of this year, as it looks to cut waiting periods on various models.
In an interaction with PTI, Bhat said there is a huge demand for company products which is evident with the number of open bookings generated by the auto major. “If you look at the last quarter booking numbers there is huge demand across the board demand for XUV300/400, Thar and demand for the Scorpio and XUV700 range continues to be strong. So from that perspective it is good that the customer is getting more choice with more products,” he noted.
When asked if the company is looking at a leadership position in the SUV segment this fiscal, Bhat stated: “That is our objective.” He noted that it is ultimately the consumer who will decide (regarding the top slot), but the company feels confident about its product portfolio. The SUV segment is now the largest in the 39 lakh unit per annum strong domestic passenger vehicle industry.
