The biggest success story for Mahindra in recent times has been their acquisition South Korean auto-makers SsangYong, the top utility car makers. The company hopes that this will help them greatly in fostering higher growth in the Indian market. The Korando and the Rexton have been eagerly awaited for in India and with their unveiling in the Auto Expo 2012, auto lovers expect Mahindra to deliver something unique in the coming year. Expectations from the company have already risen to quite significant levels since they developed a winner in the form of the Mahindra XUV500, which has proven to be a class ahead of its competitors.
The deal with SsangYong materialized at a most appropriate time for Mahindra after they had just lost out to Tata Motors in 2008 in cracking a deal with Jaguar Land Rover. Investment made to the tune of Rs.2,105 crore looks like money well spent, as the company unleashes the impressive products from SsangYong into the Indian market. Apart from displaying their usual vehicles at the Expo, Mahindra has kept two aces under their sleeves with the SUVs from SsangYong. The deal is also expected to further enhance the presence of Mahindra in the automobile market of South Korea.
Having completed their acquisition of the premium South Korean car company, Mahindra now wishes to explore into domain of farm equipment technology in the Korean market. The Managing Director of the Group, Anand Mahindra has set challenging plans for growth and is indeed aiming for the stars with respect to the growth the company desires to achieve. The company continues to be the leader in the Indian commercial vehicle market. Their tractors are however imported from two widely known suppliers, Mitsubishi from Japan and TangYong from Korea.