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Moneycontrol.com >> Messageboard >> Stocks >> Mah and Mah >> New Competetor in Mkt
   You are here :     Moneycontrol     MMB    Stocks      Mah and Mah                         Most active discussions of 2006 , 2007 & 2008
New Competetor in Mkt (1)   29-Oct-09 18:54Track this thread   Tracked by (0)  
Posted by:   rvk41 on ( 29-Oct-09 18:54 )
Price : BSE: Rs 927.75 ( 3.93 % ), NSE: Rs. 928.30 ( 4.12 % )
Mahindra & Mahindra has launched India’s first 0.5-tonne pickup, thereby creating a new segment in the goods carrier space.

The Gio, which the company claims to deliver 27 km to a litre, comes at an ex-showroom (Mumbai) price of Rs 1.65 lakh. It will be available at over 500 sales outlets through M&M’s 150 dealers in the northern, western and eastern regions from this week. The next launch phase will see the Gio enter the southern market.

The vehicle is being produced at the Haridwar plant. Initial numbers will be 20,000 units annually going up to 30,000 units.

Dr Pawan Goenka, President, Automotive Sector, M&M, said here on Wednesday that there was a “need gap” between three-wheeler pickups and the existing mini-truck segment occupied by the Tata Ace and Piaggio’s Ape Truk.

While three-wheelers, which cost Rs 1.38 lakh on an average, have annual sales of 68,000 units, the Rs 2.78 lakh plus mini-truck category is higher at 110,000 units.

It now remains to be seen if the Gio puts the heat on three-wheelers, as is widely expected, which could prompt manufacturers in this category to graduate to similar four-wheeler pickups.

The Gio is fitted with a petrol engine developed by Kohler of the US. M&M has targeted exports to SAARC countries in six months.

A 0.8-tonne four-wheeler that will compete with the Ace and Truk is scheduled to be launched by the end of the year

For information,with regards
rvk41
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