Mahindra 2 Wheelers, the two wheeler arm of the Mahindra Group, today announced that it has recorded sales of 70,000 units in F10 and has exceeded its target of achieving a rate to reach the 1,00,000 mark pa.
Monthly sales in March 2010 stood at 12,753 units, taking all three Power Scooter brands into account – the Mahindra Duro, the Mahindra Rodeo and the Mahindra Flyte. The company has witnessed a steady growth of sales in the past year. The average monthly sales for Quarter 4, F10 (Jan – Mar 2010) have been in excess of 10,000 units.
Speaking on the occasion, Mr. Anoop Mathur, President – Mahindra 2 Wheelers & Member of the Group Executive Board, Mahindra & Mahindra Ltd. said, “The fact that we have achieved this target within seven months of entering the market is a matter of great pride for us. We have comfortably exceeded our target to achieve a rate for a volume of 1,00,000 units well ahead of time. The promise has been delivered. There has been an overwhelming response to our Power Scooter portfolio both from cities as well as small towns with customers appreciating the contemporary style and attractive features of all three brands. We now have a national network of 350 dealers which is testimony to our strong customer base.”
Mahindra 2 Wheelers also boasts of a state-of-the-art manufacturing facility at Pithampur, near Indore. The plant’s products and processes are ISO 9001 certified from DNV. The company also has an R&D unit located at Chinchwad, Pune which is fully equipped with necessary design and development facilities. The Italy-based design house, Engines Engineering which was acquired by Mahindra in 2008, also adds to the company’s design proficiency.
Within the overall two-wheeler strategy, scooters form M&M’s entry point into the Indian market and will be an important part of the company’s overall two-wheeler product portfolio. There are several macro environmental trends which make the scooter market especially attractive to Mahindra. These include a younger, more affluent customer base with a significant number of empowered women and increased scooter demand in tier-2 cities and small towns. M&M is strongly positioned to cater to this demand, given the company’s significant presence and brand equity in these markets.
Development competencies provided by Taiwan’s Sanyang Industry Company Limited (SYM), coupled with M&M’s R&D strengths will help the company assume a significant position in the rapidly growing Indian and global two-wheeler market.
The company will focus on building a global R&D network and draw upon the best available global competency pool, while retaining the flexibility to cater to specific consumer requirements in all segments. As the newest entrant in the industry, Mahindra 2 Wheelers has the advantage of changing the dynamics of the game through innovation and consumer insight led marketing strategy.