Mahindra & Mahindra (M&M) two wheelers a new entrant in the 2 wheeler industry is slowly and steadily becoming popular in the 2 wheeler market and has already sold 10,000 scooters in India.
Mahindra & Mahindra (M&M) is now eyeing a double-digit growth in its two-wheeler business in the next two-years and will also explore the inorganic growth route for expansion.
“We are growing and will continue to grow to make M&M a strong brand in the two-wheeler segment. We are targeting a double-digit growth in the next two-years by grabbing opportunities which will enable us to grow faster,” Mahindra & Mahindra (two-wheeler sector), President, Anoop Mathur, said in Mumbai.
The company presently enjoys an 8% market share in the scooter segment and is looking to increase it this year. The company has a capacity to make 5-6-lakh units per year and plans to increase this in the future. The company presently has 350-dealers pan-India for its two-wheelers and plans to add 50 more this fiscal.
Mahindra two wheelers entered when Bajaj Auto planned to exit scooter segment. The main players in the automatic scoter segment Honda will now face competition from the new entrants like the Rodeo, Duro and TVS’s new Wego.