Mahindra & Mahindra to launch a new pick up truck of above 1.2 tonne capacity in 2011, and is planning to increase prices in January With margins under pressure due to rising costs of raw materials.
One of the India’s largest vehicle maker Mahindra and Mahindra Ltd to launch a new pick - up truck in the first half of 2011.
Mahindra & Mahindra , Arun Malhotra , senior vice-president of sales and customer care said “We are working on a lot of models. There will be a pick up on a completely new platform. It will be near the top end of our commercial vehicle pickup range, with a payload capability of over 1 tonne.” Mahindra currently has five pickups in its commercial vehicles division starting with the Gio, Maxximo, and three wheelers Alfa and Champion models, and Maxx.
Sales of Mahindra & Mahindra utility vehicles increased to 56,639 units in the September quarter from 55,280 a year earlier, boosting the sales by 15% to Rs5,311 crore.
Company is also planning to revise prices across all the segments including heavy commercial vehicles of all its models in January. The prices of rubber and steel components have rose up, this has forced company do a price revision, said company official.
Earlier Hyundai Motors and General Motors have decided to increase prices across models upto 2.5%. The country’s largest car maker, Maruti Suzuki , had said that it will hike prices of its vehicles soon to offset rising material costs .
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