Mahindra Trucks and Buses to launch new LCV and ICV ranges
Mahindra Trucks and Buses Division (MTBD) has rolled out its 15,000th HCV (Heavy Commercial Vehicle) from its Chakan plant. In a bid to ramp up its operations, the company has announced a fresh investment of INR 700 cr which will go into development of light and intermediate commercial vehicles (LCV and ICV).
MTBD says that in two years’ time, it will have a comprehensive portfolio with GVW ratings between 3.5 – 49 tonnes. No further details regarding the upcoming LCV and ICV range have been divulged at this point.
The commercial vehicle wing of the automaker claims to have over 6,000 customers across the country and roughly 30% of them opt for a repeat purchase. The company also has 1.25 lakh light commercial vehicles plying on Indian roads.
Mahindra is bullish about the recent upturn in the Indian commercial vehicle market. A comprehensive portfolio would enable it to have a complete coverage of the market, resulting in higher growth momentum.
The new product program is most likely to include a more powerful version of Maxximo Plus which would take on Tata Super Ace. Also, the entire ICV sector (9-12 tonne GVW) is left to be explored. The product expansion would also be accompanied by network expansion.