Mahindra to launch its first-ever bike in India by Dec 2010

The largest utility vehicle (UV) maker of the country Mahindra & Mahindra, which has already sold more than 1 lakh scooters in the Indian market in just a period of 10 months, has said that it will mark its debut in the domestic motorcycle segment of the country by the end of this year.  According to a statement given by Mr Anoop Mathur, President at Mahindra two-Wheelers, the company has achieved a milestone by selling one lakh scooters in just 10 months as against a set target of 18 months and now company is planning to enter the motor-cycle market by end-this year. He added that company is working on a unique product that will be assembled in the same plant where its scooters are manufactured.

According to the industry reports, the prospective motor-cycle will be designed by Italy based Engines Engineering, to which M&M had acquired in year 2008. The company has a massive production capacity of 5,00,000 units annually at its Pithampur facility where it manufactures its scooters. Thrilled by the overwhelming response for
its scooters, the company is now aiming to sell as many as 1 lakh scooters in remaining five months of this calender year.

Mr Mathur further said that what the company has achieved in last 10 months, it would now try to achieve the same in remaining five months of this year. The company has reported a massive 329 per cent jump in its total sales in the month of July this year by selling 12,033 units of its two-wheelers as against the sales of mere 2,808 units in the same period preceding year. The company has as many as 350 dealerships in the Indian market and aims to as 50 more in this financial year.