Mumbai, Aug. 9
MAHINDRA & Mahindra Ltd (M&M) on Tuesday forayed into the 0.5 tonne-payload segment in three-wheelers by launching its Champion Alfa model. It is priced at Rs 1.12 lakh, ex-showroom, Hyderabad.
Targeted sales volumes for the vehicle were not disclosed. The company already has a 42 per cent market share in the 0.75-tonne payload segment, where main competition is from Bajaj Tempo's Minidor. The diesel engine Alfa will compete with Piaggio's APE and Bajaj Auto's GC1000.
At a press conference, an M&M official said that goods carriers had constituted 36 per cent of the 2.55-lakh units sold in the 0.5-tonne segment of the three-wheeler market.
Cargo model sales had moved up from 37,000 units in 2003 to 93,059 units in 2005.
The South accounted for 44 per cent of the relevant market, followed by the West with 27 per cent, the East at 22 per cent and the North with 11 per cent. Within South India,
Andhra Pradesh was the biggest market with a 40 per cent share. M&M will be producing the Alfa at its Zaheerabad plant.
It will be rolled out across the South and Maharashtra by October and be available nationwide by year-end.