Automotive major Mahindra & Mahindra is planning to enter the US with a sports utility vehicles and pick-ups. Towards this, M&M signed a distribution agreement with Global Vehicles USA Inc for the import and distribution of Mahindra vehicles, parts and accessories.
M&M would be the first Indian auto major to break into the North American passenger vehicle market. A formal announcement of the date of launch and other details is expected to be made during the second quarter of 2007.
Global Vehicles has been given exclusive rights to market Mahindra products. Global Vehicles has an established channel network of 130 dealers, which would expand to around 200 in time for the launch.
M&M will launch an upgraded version of its SUV and is investing in the products to meet the FMVSS & EPA regulations. "We are fully equipped to meet the demanding US conditions.
Majority of our export range of vehicles would be upgraded to match US standards," said Arun Jaura, senior vice president (product development) of M&M.
Pawan Goenka, president (automotive sector), M&M said, "The decision to enter US, the most demanding automotive market in the world, is a deliberate and rational decision. Close to half of the global sales in SUV's and pickups is in the US and we want to capture at least a small fraction of that to start with".
"Our vehicles have been quite successful within a short span of their launch in most countries, and our exports have been growing at over 70 per cent year on year, though on a small base.
"Currently around five per cent of our volumes come from exports and we aim to rapidly ramp it to 20 per cent of our total sales volumes," said P N Shah, vice-president, international operations.
It has export presence in Africa, Europe, South East Asia and SAARC countries among others.
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