Financial Daily from THE HINDU group of publications
Thursday, Aug 26, 2004
Financial Daily from THE HINDU group of publications Thursday, Aug 26, 2004 |
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Corporate
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Announcements M&M ramps up capacity for Scorpio Our Bureau
New Delhi , Aug. 25 IN order to meet consumer demand for its utility vehicles, automotive major Mahindra and Mahindra has ramped up capacity for the Scorpio. "We have increased capacity of the Scorpio to about 130 vehicles per day. The overall capacity at our Nashik plant has recently been increased by 45 per cent," Mr Pawan Goenka, Chief Operating Officer, Mahindra and Mahindra (M&M) said. However, the ramp up may not be sufficient to meet the demand for the Scorpio which has a waiting list of about three weeks. This may also delay the launch of a new variant of the Scorpio. M&M will see increased demand for the Scorpio from the export markets as well. The company is set to commence exports of its utility vehicles to South Africa and is also in talks with Renault of France for a distribution tie-up. "We exported about 1,600 vehicles in the last year and are expecting a significant increase this year. We expect exports to account for about 20 per cent of sales in the next 4-5 years," Mr Goenka said. Meanwhile, Mr Goenka also said that M&M had started sourcing a few components from China for "low-end vehicles." The imported components include glass, bearings and electrical parts.
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