Mahindra2Wheelers looking to step up the exports
Posted on: Jun 28, 2013 - 5:08pm IST
The new Indian two wheeler maker Mahindra2Wheelers is exploring ways to improve the sales volume.
Apart from adding new products (the Mahindra Centuro 110cc commuter will be launched on July 1st) the company is looking to brighten its prospects by stepping up its export operations.
Currently Mahindra exports its two wheelers to countries like Nepal, Sri Lanka, Bangladesh, Cuba and Kenya. New international markets are being explored.
Speaking to Economic Times, Mr. Viren Popli, Executive Vice President, Mahindra2Wheelers, said: “Currently, our exports contribute less than 10 per cent. But with our product portfolio expanding, we expect this to grow to 20 per cent over the next one year.”
Regarding the target markets, Mr. Popli stated, “We are also aggressively looking at other markets like Uganda, Nigeria, Tanzania in Africa and Brazil, Nicaragua, and Colombia in South America.”
The company registered a growth of 36% this may with 10,970 units being sold. Going forward, the export volumes are expected to contribute significantly to the bottom line.
Mahindra’s two wheeler facility in Pithampur, MP, has an annual production capacity of one million units out of which only about 20% is being utilized. However the firm is working on numerous products in various segments including the 300cc Mojo and a possible 150cc motorcycle which would eventually improve the utilization.