New Delhi: Mahindra and Mahindra (M&M) is ready to launch a new version of its multi-utility vehicle Bolero and a 2600cc petrol engine model of its latest sports utility vehicle Scorpio. The date of launch of the latter has been fixed at 24 October 2002.
The Bolero Sportz, as it is called, will have power steering and air-conditioning but will lack other features like power windows, and central door locking and music systems, says a senior company official.
In an aggressive strategy the company is pricing the Bolero Sportz at Rs 5 lakh, while the petrol version of the Scorpio will come for about Rs 7.10 lakh - about Rs 50,000 more than the existing top-end diesel engine variant.
In a revision of its earlier plans to launch a stripped-down version of the diesel variant of the Scorpio (priced at about Rs 5.2 lakh), the company says it is still coping with the demand of the existing model and will delay the launch of the basic version. At present, the base model of the vehicle costs Rs 5.5 lakh.
The company had announced plans to launch a basic diesel version of the Scorpio priced at about Rs 5.2 lakh. The official says according to the current production and demand, M&M should be selling about 25,000 units of the Scorpio this year and over 30,000 units in 2003-04. ''The production of the vehicle will be increased from 65 to 100 units per day by early next year.''
The company has already conducted a 'soft launch' of a four-wheel drive version of the Scorpio and an official launch in the domestic market is likely by the end of this year. This new model is likely to be priced at about Rs 1 lakh more than the existing variants.
M&M presently has an installed manufacturing capacity of 45,000 vehicles annually in two shifts at its Nashik plant. During April-September 2002, M&M has sold 21,065 utility vehicles - a 5.6-per cent rise over the same period last year.