M&M to launch Ingenio by end of 2008
18 October 2008
Mumbai: Mahindra & Mahindra's new MPV based on an altogether new platform is scheduled to be launched by the end of this calendar year. To be produced at the company's Nashik plant, the MPV is being manufactured under the project Ingenio and company will soon decide on the brand name of the vehicle.
Pawan Goenka, president, automotive sector, M&M, said the new MPV would be launched by the end of December. He said the name of the new vehicle would be decided soon. He said that the company could also name the new vehicle on its project name Ingenio, similar to the Scorpio, which was made under a project by the same name.
Goenka said despite the current bleak scenario the company would go ahead with its expansion plans and the planned product launches will be on track.
However, there would be no re-think on the company's proposed entry into the US market as the situation there had prompted a readjustment on the pricing position due to the input costs and lack of credit available to consumers.
Goenka said he felt that M&M would benefit from the shift in the US from large gas guzzling SUVs to more fuel efficient SUVs.
Despite the adverse market conditions in the US the company is looking at sales of 10,000-15,000 units, which despite being a small portion of the overall auto market in the US, was a big number for M&M, he said.