The Hindu Business Line : M&M plans doubling exports every year

Mumbai, June 30 Mahindra & Mahindra (M&M) has registered CAGR (Compounded Annual Growth rate) of 66 per cent in exports since FY 2003-04 when it clocked 1,061 units in export volumes. The automobile manufacturer sold 8,100 units in FY 2006-07 and is now gearing up to double its exports every year, said Mr P.N. Shah, Executive Vice-President, Overseas Operations.

The company’s biggest export market is South Africa (53 per cent of total export volumes) with its 100 per cent subsidiary (Mahindra South Africa) having 13.5 per cent market share in a particular vehicle segment (vehicles that cost less than 300,000 rand). The subsidiary will now have a new role to play. It will cater to distribution and sales of their vehicles to all SACCU (Southern Africa Common Customs Union) countries such as Botswana, Swaziland, Lesotho and Namibia) he said. Moreover, the company’s recent tie up in Egypt for a local assembly line will cater to the local market and other countries of North Africa like Sudan, etc.

The company exported 100 vehicles last year to Russia, which has been on the company’s export radar for some time. Mr Shah added that the company will take a final call on the possible assembly line to be set up in the country this year. Similarly in low numbers, the company has made its presence in South East Asian countries by exporting low volumes to Malaysia.

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