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Mahindra & Mahindra, the market leader in SUV segment, posted healthy set of numbers in March with sales jumping 17 per cent year-on-year. Speaking to Bloomberg TV India, M&M automotive segment CEO Pravin Shah says the medium and heavy commercial vehicles segment has grown the most. Even in SUV segment, it has increased its market share by 2 percentage points to over 40 per cent.
March numbers have been quite encouraging for M&M. How has been the performance last fiscal? Can you give us the break-up in terms of different segments?
The performance what we have put across and what we have been doing in last 4 months on back of addition of new products, I think will help us post a positive growth in FY16 . In March, the automotive business has grown by 17 per cent. And if I put it segment wise, passenger vehicle segment’s growth is 21 per cent in March, commercial vehicles’ growth was 24 per cent. In the medium and heavy commercial vehicles segment, the growth was 57 per cent and for the whole of FY16 it was 59 per cent. The passenger growth for whole year was 6 per cent and similar type of growth was posted for commercial vehicles.
Being one of the dominant players in SUV segment, you now face a lot of competition. Every auto major is coming up with SUVs. Tell us about the impact that you have seen on the market share in the SUV and compact SUV space?
I won’t talk about whether the products you mentioned are SUVs in the true sense or not. That’s part of the industry. We continue to be the market leader in spite of the so many new products launched in this space. I am happy that we would have added at least 2 percentage points to our market share.
What’s your market share as on now?
Our market share should be 40 per cent plus. This is what we expect going forward. We have the widest product portfolio at different price points starting from ₹4.75 lakh and going up to ₹25 lakh. We have products at different price points meeting the demand of different segments and customer requirements. The type of wide product portfolio and the choices that we offer to customers give us the confidence that we will continue to be a market leader going forward.
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