Mahindra & Mahindra Ltd on Monday announced the launch of its four-wheeler compact cab GIO in Hyderabad and outlined plans to have a pan-India presence within next three-four months.

It plans to launch several variants on the GIO platform to suit different needs for passenger movement and cargo.

Hike in output

The diversified automotive major, which has a capacity to manufacture 24,000 GIO range of vehicles a year, plans to ramp up its production capacity to 40,000 of this affordable cab once it is present across all markets in the country, according to Mr Vijay Nakra, Vice-President, Sales, Automotive Division, Mahindra & Mahindra.

Addressing a press conference here, he said that the market potential for this competitively priced vehicle (Rs 1.95 lakh ex-showroom here) is estimated to be about 17,000 units a month. This is growing by about 20 per cent a year. Most of the three-wheeler buyers are looking at GIO as an upgrade option.

“We are making its acquisition easy with attractive buyback option of three-wheelers and easy finance through group Finance arm,” he said.

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