M&M recently launched their four wheeler mid-sized cab GIO. While launching the cab in Hyderabad, they also outlined their plans to increasing their presence all over India within the coming three to four months. The company also plans to introduce many variants of their GIO platform to meet the different needs of cargo and passenger movement.
The company’s VP of sales, auto division, Vijay Nakra, said that they currently have a capacity of manufacturing 24,000 GIO vehicles per annum. They are also planning to increase their capacity to 40,000 models, once they are available all across the country.
During a press conference, he said the potential of their competitively priced model, available at INR 1.95 lakhs, is projected to be around 17,000 models per month. This is a growth of around 20% per annum. Most buyers of three wheelers are looking at the GIO as their upgrade option.
He said that they are making it easy to buy the GIO by offering a striking buyback choice as well as easy finance via their finance arm.