M&M may set up base in Turkey for European mkts

Q: We hear that eventually you might make Turkey your export base for accessing other European markets, is that correct?

A: It is possible but it is too early to comment. We have just started our business in Turkey, both with our tractor as well as our automotive sales. Tractor just started about four months ago and automotive now. Once the volume grows to a certain, decent number then we can certainly look at the possibility of manufacturing in Turkey for the local market as well as for export.

Q: Even Mahindra Finance from within the group are looking at Turkey as an attractive entry opportunity and may look at partnerships to come into the country?

A: It depends again on how the tractor and automotive sales pick up. If we get a good critical mass of sales, then Mahindra Finance will certainly look at coming into Turkey to support our sales in Turkey and other markets. But it is early for us to think about Mahindra Finance. We first need to grow the automotive and tractor market here.

Q: Do you want to give us a sense in terms of numbers, how important Turkey will be for you, a couple of years down the line?

A: This year we will be happy if our numbers touch about 1,000 vehicles, for this calendar year. Eventually this market has the potential of giving us 4,000-5,000 vehicles in three to four years' timeframe. This will be on the basis of Scorpio SUV, on the Scorpio Pikup and we will eventually launch the new product such as the Ingenio or the new SUV that we are working on.