Mahindra’s new Verito could soon be available in two different variants, as the company contemplates expanding their portfolio by this fiscal year end.
Pawan Goenka, the president of M&M’s Farm Equipment and Automotive Sectors, said that one of the variants will be a completely refreshed variant; the one will be a sub-four meter small car. Apart from these, they will also be launching a new SUV this year by December. Goenka, however did not divulge further details on this topic.
When asked regarding the South Korean, SsangYong Motor Co., Goenka said that the brand has witnessed good sales this year. They have managed to sell 55,000 models from the January to June period, with their target for the entire year being 1.25 lakhs. M&M had earlier announced that they plan to make an investment of $250mn in the South Korean Co. for developing products, among others.
He said that they will be introducing SsangYong products by the fiscal year end. They will be launching the Korando-C and Rexton as CKD units from their Chakan plant in Maharashtra. They Korean company is growing by leaps and bounds, and are looking forward to commencing independent export of their models to China by 2011 end, according to Goenka.