Mahindra and Mahindra will soon bring in a CNG variant of the newly refreshed Bolero pick up flat bed - the flagship brand in its pick-up portfolio - that has been launched in some markets across the country and will be rolled out pan-India over the next couple of weeks.
“There are a only a couple of markets in India where CNG vehicles ply,” Vivek Nayer, Chief Marketing Officer, Automotive Division, M&M Ltd, said.
The Company already has CNG variants in the older version of the Bolero pick up (which will soon be phased out), as well as in the Bolero Maxi truck, but has no plans as of now to bring it in the Genio, the third member in its pick-up range.
PICK-UPS BUCK TREND
In a scenario where virtually every segment in the auto industry has witnessed a decline, the pick-up segment in the country has effectively bucked the trend to grow 17% in the first half year of FY 14.
The segment which as per SIAM definition consists of vehicles from 2 to 3.5 tonnes gross weight (including payload), has seen 26% CAGR over the last ten odd years.
For M&M, the growth in this segment has been 19% year on year in H1-14, and typically 60% of all their pick-up sales come from rural or semi-urban markets.
Asked whether he expected the growth trend to continue in the second half of the fiscal, Nayer said he was “cautiously optimistic”.
The two lakh unit per annum strong pick-up market in India is dominated by three large players. M&M says it has 58% of the share, with Tata Motors following at around 27% and Ashok Leyland bringing up the rear.