Mahindra & Mahindra Ltd today launched the Maxximo minitruck to boost sales of its commercial vehicles and to take on Tata Motors Ltd's Ace model, the country's largest-selling minitruck.
The country's biggest sports-utility vehicle maker by sales also has plans to export the minitruck and roll out some variants in coming months in its bid to up vehicle sales in a segment less affected by the economic downturn than heavier trucks.
According to Vivek Nayer, the Ace currently held 90 per cent of the market and Mahindra's products would compete with the Ace in terms of looks, costs and engine capabilities. Nayer was speaking at a news conference.
The 0.74 ton Maxximo sells at Rs2,79,000 rupees at Mumbai showrooms, on par with the Ace's price in Mumbai.
The Ace one of the most successful commercial vehicles from Tata Motors was launched in 2005 to compete with three-wheeled goods carriers from Bajaj Auto Ltd, Piaggio and Mahindra. Tata Motors last year said it planned to up Ace's production by 15-20 per cent as new versions of the truck, including the Super Ace, hit the market.
Light truck sales in India touched 171,692 units during April-December 2009, a 36 per cent rise from the year-earlier period as against a growth of only 9.3 per cent to 127,801 vehicles in the medium and heavy truck category.