Rs 20,000 cr from 2-wheelers by 2020: M&M | autos | Hindustan Times
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Rs 20,000 cr from 2-wheelers by 2020: M&M

Utility-vehicle maker Mahindra & Mahindra, which only recently entered the two-wheeler segment, is targetting revenues to the tune of Rs 20,000 from the business by 2020, said vice-chairman and managing director Anand Mahindra said on Wednesday.

autos Updated: Jul 04, 2012 21:06 IST
HT Correspondent

Utility-vehicle maker Mahindra & Mahindra, which only recently entered the two-wheeler segment, is targetting revenues to the tune of Rs 20,000 from the business by 2020, said vice-chairman and managing director Anand Mahindra said on Wednesday.

The company believes that the Indian two-wheeler industry will cross 30 million units by 2020, and is aiming for reach 3-4 million units in annual sales or 10% marketshare by this time.

The four-year-old Mahindra Two-Wheelers sold 130,000 units in 2011-12.

“There is a sizable opportunity. Penetration of two-wheeler is still very low,” Mahindra said at the inauguration of Mahindra Two-Wheelers’ research and development centre here. He sees 20% of revenues from the segment to come from exports.

Mahindra had acquired Kinetic Motors’ two-wheeler business for Rs 110 crore in July 2008, and has so far invested Rs 700 crore building capacity, research and development and marketing network.

Anup Mathur, president, Mahindra Two-wheelers, said the company will launch three motorcycles this fiscal, including a relaunch of the 110-cc Stallio, which was pulled off from the market 18 months ago. A 300-cc Mojo will be launched in the last quarter of 2012-13.