Mahindra and Mahindra expects its market share in the utility vehicle segment to substantially go up with the launch of two new products under Bolero brand, according to a company official.
"We hope to sell at least 10,000 to 12,000 units of the newly launched Bolero XL and Bolero XLS models in the first year," Nalin Mehta, general manager (marketing), M&M, told reporters on the occasion of the launch of two Bolero variants in Chennai.
Bolero XL and Bolero XLS, priced at Rs 470,000 and Rs 490,000, respectively, ex-showroom, Chennai, were targeted at the emerging corporate, taxi and family segments, he said, adding the new variants were available in seven, nine and 10 seater options.
Mehta said the company would, however, continue with the production of the conventional Bolero models since they still enjoyed good customer patronage.
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