With a market share of less than 1 percent last fiscal, Mahindra & Mahindra's two-wheeler venture has largely been left on the fringes for the last five years. But chairman and managing director Anand Mahindra remains confident about the company's two-wheeler business.
Also Read: Mahindra launches motorcycle 'Centuro'
CNBC-TV18's Ronojoy Banerjee reports that the launch of the new Centuro could well be the latest ditch attempt by the Mumbai-based conglomerate to revitalise its struggling two-wheeler business. Anand Mahindra, CMD, Mahindra & Mahindra, said, "We now have a product that epitomises the inherent Mahindra strengths."
Having repeatedly faced questions on the viability of the two-wheeler business since Mahindra & Mahindra acquired the operating assets of Kinetic Motors in 2008, Anand Mahindra said the biggest mistake in the past for the two-wheeler maker was that R&D was not core to its business and hence it suffered initial hiccups.
"I am not saying we will not make mistakes again, but the question is how quickly we can learn from them," he added. Responding to a specific question from CNBC-TV18 whether the mounting criticism had affected him personally, he said, "I think you can draw your own conclusion. But people ask me about strategy and for me strategy is about conviction."
The company said it will launch the 300cc Mojo by the end of this fiscal. Apart from that 10 new products would hit the roads over the next 2 to two-and-a-half years.