Automotive major Mahindra & Mahindra Ltd is working on developing more models in the commercial vehicle segment by plugging gaps to suit certain specific requirements.
These could be in the area of cold storages, logistics and personal captive requirement of local businesses and some offered through customisation, according to Mahesh Kulkarni, Senior General Manager, Mahindra & Mahindra.
Addressing a press conference here to launch its latest Bolero Maxi Truck Plus in South India, he said the vehicle has been designed to meet the requirements in urban areas of the country providing the last mile transport.
The growth of retail in urban areas of the city, restrictions on movement of bigger trucks into busy city locations and requirements for logistics are all driving the growth of this commercial vehicle segments, he said.
In bumper-to-bumper traffic with heavy payloads and flyovers requiring good pulling power, companies require vehicles that suit city requirements. This is one of the reasons for growth of the commercial utility vehicle segment last year.
However, the market has been relatively sluggish during the year so far. Sentiment has been impacted, he said.
“We have a share of about 54 per cent in the pick-up and utility vehicle segment, which grew by about 41 per cent last year. We are confident of growing above the industry growth. The SIAM has projected growth of about over 10 per cent in the segment,” he said.
Answering queries, Kulkarni said the company is gearing up to launch its sub-four meter car Mahindra Verito called Vibe. This will attract lower duty compared to its sedan Verito and create the necessary buzz in the market.