Riding on the growth wave, Mahindra to launch 6 new models by March 2013
Mahindra and Mahindra AGM Pawan Goenka confirmed to the media that Mahindra will launch six vehicles by March 2013 to offer a wider range of Mahindra products to the Indian customer. Mahindra registered a profit growth of 40 per cent last fiscal and is targeting 10-12 per cent this year in spite of the car market slowing down and not much growth in the tractors segment also.
Mahindra and Mahindra have also planned for a capital expenditure of Rs 5000 crore over the next three years to strengthen their production capacity and develop new cars. Of the six launches confirmed, there is the Xylo Mini and the Reva NXR. There may be a Verito hatchback on the cards or a Verito facelift again. The list would probably be completed by commercial vehicles.