Mahindra XUV500 now amongst top 10 Compact SUV brands in South Africa; Mahindra USA doubles tractor billing to cross 10,000 mark
July 10, 2012, Mumbai: Mahindra & Mahindra Ltd. (M&M), a part of the USD 15.4 billion Mahindra Group, has strengthened its global presence over the past two years with exponential growth recorded. The company’s exports have grown in the Asia-Pacific region, Africa, South and Latin America and USA. The company’s Auto exports grew by 70% while Tractor exports grew by 16% in the financial year ending March 2012.
Mahindra South Africa, which was established in 2004, sold 1761 vehicles in F11 which grew to 2558 vehicles in F12, an increase of 45%. The company’s product portfolio includes Bolero Pick Ups, Scorpio Pick Ups, Genio Pick Ups, Scorpio SUV, Xylo MPV, Xylo panel vans and Thar, and the new Mahindra XUV500 which was simultaneously launched in India and South Africa. After a successful launch, the Mahindra XUV500 was showcased at the Johannesburg International Motor Show where the media got an opportunity to test drive the vehicle. This Cheetah inspired SUV attracted a considerable amount of interest with over 100 units being retailed per month, making it one of the top 10 compact SUV brands. The Mahindra XUV500 has also been perceived as bringing an urban touch to the Mahindra line-up in South Africa which primarily consists of tough off-roaders.
In other African countries, M&M’s auto exports grew by 39%.
M&M Ltd. began exporting tractors to Africa in 2004-05. Tractor exports in Africa grew by 77% in FY’12.
The award winning XUV500 was also recently launched in Australia.
In the current financial year, M&M expects to almost double its volumes in the LATAM region, and expects sales to cross the 10,000 mark in F13. Chile and Brazil are strategic markets in this region. The company’s South American footprint encompasses Brazil, Chile, Paraguay, Uruguay, Peru, Ecuador, Columbia and Central America with the Scorpio range of SUVs and Pick Ups.
In North America, Mahindra USA (MUSA), a wholly owned subsidiary of M&M, which sells the entire range from 18 HP to 85 HP tractors, has doubled its billings from 4,823 tractors in F10 to 10,012 tractors in F12. MUSA successfully completed its 0<85 HP tractor portfolio with the launch of the revolutionary new Mahindra Max the industry first true sub-compact and mid-compact tractor. MUSA also ranks solidly among the top three manufacturers in overall dealer satisfaction in the North American Equipment Dealers Association (NAEDA) 2012 Dealer-Manufacturer Relations Survey. In the survey, MUSA led the competition in four key categories: marketing and advertising support, product technical support, warranty payments and return privileges. Established in 1900, NAEDA is the premier trade association for the agricultural industry in North America. MUSA's new North American Headquarters in Houston consolidates its North American Parts Department and Production into a single corporate facility and soon will be adding a fourth distribution center located in Pennsylvania. MUSA's strengthening Dealer network, dynamic regional marketing plan execution, and customer- first strategies enabled an impressive 25 percent retail growth in a difficult and flat North American market last year. MUSA tractor owners show an impressive 98 percent brand loyalty and 97 percent customer satisfaction ratings (the industry's highest) in an extremely competitive industry. MUSA's recent customer-oriented website redesign also received top honors at the 26th annual 2012 American Marketing Association (AMA) of Houston's Crystal Awards.
Since 2006, M&M Ltd. has been working on the development of a vehicle for the US market. However, it recently decided not to proceed further with the project due to changes in the US regulatory and market situation. M&M will continue to monitor the US situation and remain flexible with its approach to this market.
Sri Lanka vehicle volumes grew almost three-fold in F12 alone. The Maxximo’s market share in Sri Lanka increased from ~ nil to 29% in one year.
Mahindra launched the Mileage Ka Master range of tractors in Bangladesh and Nepal in F12. Among Asia Pacific countries, M&M Ltd. exported 2359 tractors to Bangladesh in F12. This was the highest number exported till date.
The Mahindra Swaraj brand also grew handsomely in the SAARC countries with 12% annual growth and highest ever exports of 1800 units.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A USD 15.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 people in over 100 countries.
In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow.
In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
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For further enquiries please contact:
Ms. Roma Balwani
Senior VP & Group Head - Corporate Communication
Mahindra & Mahindra Ltd
Phone: (+91-22) 24975176