Mahindra Trucks and Buses Ltd has said that it will relook into its bus business strategy after a year or two, once the company implements the ongoing Rs 700 crore project to rollout Intermediate Commercial Vehicle (ICV) and more LCV products besides doubling market share in HCVs.
"We are currently focused on ICV and new LCVs. We will relook on bus business in a year or two after the rollout of ICV is complete," Mahindra Trucks and Buses Managing Director and CEO Nalin Mehta said.
According to Nalin Mehta, Managing Director and CEO , Mahindra Trucks and Buses, Mahindra currently operates in the 15-42 seater small bus space, which has about 8 per cent marketshare. The company will relook at the bus business and only then will it be able to speak on new products and roadmap for the segment.
The company will pump in Rs 700 crore in three years, beginning last year for new ICV segment and deepening LCVs. In HCV the company has invested about Rs 1000 crore. The company was hopeful on revival of the market with green shoots in the economy, proposed rollout of GST and good monsoon, Mehta added.
Mahindra which is currently exporting its trucks to SAARC countries like Nepal, Bangladesh and Sri Lanka, is exploring to enter the African market, the MD said. The company has also roped in Bollywood star Ajay Devgan as the new face of its campaigns featuring product and service guarantees, he informed.
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