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Old 27th February 2010, 23:23   #1
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Default M&M to launch 9 vehicles till Mar 2011

Farm equipment and utility vehicles major Mahindra & Mahindra said it will launch nine vehicles in various segments till March 2011, while it has hiked prices of its products by up to Rs 18,000 following the increase in excise duty announced in the Budget.

"From now till March 2011 the company will launch nine vehicles in various segments, excluding two-wheelers," Mahindra & Mahindra President Automotive Sector Pawan Goenka reporters.

The launch will include the electric version of mini truck, Maxximo by end of March this year. The vehicle was displayed at the Auto Expo held here in January.

Goenka also said M&M has hiked prices across various models ranging from Rs 2,500 for 3-wheelers up to Rs 18,000 for the top end version of sports utility vehicle Scorpio.

The move follows yesterday's Budget proposal to increase excise duty to 10 per cent from 8 per cent on all non- petroleum products.

He expressed concern that after the present price hike there will again be another round of hike in April because of implementation of new emission norms. From April, 13 cities are scheduled to come under Bharat Stage (BS) IV norms and the rest of the country upgrade to BS III.

The next round of price increase could be roughly of the order of the hike now, Goenka said, adding the auto industry, which is just about recovering from the battering during financial downturn in 2008-09 could be hurt "if there is further tightening of money supply".

M&M to launch 9 vehicles till Mar 2011
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