The Hindu Business Line : M&M plans sub 1-tonne LCV in H2 of 2008

New Delhi, Jan. 11 Tata Motors’ Ace may not be able to enjoy its dominant presence in the sub one-tonne light commercial vehicle segment as Mahindra & Mahindra is planning to launch its product in the same segment in the next few months.

M&M said that it would launch a sub one- and sub three-tonne LCV in the second half of the year.

“We are working on a vast range of vehicles ranging from the smallest 0.5 tonne to the largest sports utility vehicle and commercial vehicles,” Dr Arun Jaura, Senior Vice- President, Global Product Development, M&M, told Business Line.

According to industry estimates, the commercial vehicle segment is growing at a compounded annual growth rate of 26 per cent. Within it, the LCV segment is estimated to have grown from 56,672 units in 2001-02 to 1.92 lakh by 2006-07. By the end of the current fiscal, the LCV market is expected to touch around 2.32 lakh units. But unlike other players who have formed joint venture – Ashok Leyland with Nissan, Eicher with Volvo and Hero Group with Daimler – M&M is independently going ahead with its LCV plans.

“Our sub one-tonne LCV is being developed independently by us without any partnership,” said Dr Jaura.

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