M&M’s new mini van to take on Tata Magic
Mahindra and Mahindra has stepped up its efforts to end Tata’s dominance in the small commercial vehicle segment by launching Maxximo mini van, pitched against Tata’s Ace Magic.autos Updated: Apr 27, 2011 21:44 IST
Mahindra and Mahindra has stepped up its efforts to end Tata’s dominance in the small commercial vehicle segment by launching Maxximo mini van, pitched against Tata’s Ace Magic.
The 800-cc Maxximo mini van with 25 hp will come for Rs3.2 lakh (BS III version).
Mahindra first challenged Tata Motors’ dominance in the light truck segment with its highly successful product Ace by launching Maxximo. In a year’s time, Maxximo captured 21% of the market although Ace still retains its dominance with 75% share.
Now, Mahindra has launched a mini van on Maxximo platform to take on Tata’s Magic. “Maruti Omni sells 7,000 units a month and Tata Magic 4,000 units. The 6-8 seater mini vans in the price range of Rs2.5-3.5 lakh has a market of 1,43,500 units per year. We expect this to grow by 10-12%,” said a senior M&M official.
Besides Maxximo mini van, the company recently introduced another people carrier Gio Compact Cab on its half-tonne Gio platform, which will compete with Tata Iris. M&M has taken the aggressive route for marketing its mini vans. Mahindra Finance is offering up to 90% finance to prospective buyers, besides wooing three-wheeler owners with an exchange facility.