New Delhi: Mahindra and Mahindra, aims to strengthen its Indian market position by launching 23 new products by the decade end, the company said at its investors meet.
The Mumbai-based company targets to have INR 27k crore capex and investment between FY25-27. Mahindra and Mahindra has given a detailed outlook to expand the auto and farm business where it is focusing on bringing more options for potential buyers in both the sectors.
Retaining its SUV game
Mahindra who has 20.4% SUV revenue market share for FY24 is planning to capture more into its stronghold market. SUVs demand has grown drastically in half a decade with SUVs holding 34% share in FY20 to 64% in FY24 as per SIAM data. Mahindra is gearing up to create its fortress with upcoming 8 ICE, 7 EV, and XUV 3XO launches.
M&M will launch 9 ICE SUVS in which 3 are going to be mild cycle enhancements; this includes a recently launched XUV3XO. M&M will introduce 7 born EVs by 2030 with its focus on safety, refinement and sophistication, off road capability, and democraticing tech.
The company is eyeing on increasing its per month (pm) capacity for its SUVs with the current one (FY24) being 49k/pm to 64k/pm by FY25. After achieving this, by FY26 it aims to achieve 72k/pm. Overall it wants to 3.5X its capacity by FY26 from FY20.
By FY25 the company wants to increase the 5k capacity of its SUV (Thar 5D, XUV 3XO/400), and 10k for EVs.
LCVs Expansion
To enhance and capitalise more its current 49% volume market share M&M is planning to widen its portfolio to 7 LCVs by 2030. Company is going to introduce them under 3.5 tonne weight by providing multiple fuel options for the buyers. It is going to launch for both intracity and intercity logistics in which 5 are going to be ICE and 2 EVs.
Currently the company offers both double cabin and single cabin LCVs. In single cabin LCVs its portfolio incorporates small (1.0-1.2T), medium (1.3-1.5T), and large (1.7-2T) products.
Mahindra informed its investors that it is going to keep the margins through operating leverage, cost control, pricing / varianting.
