After Italy, Australia and Chile, Mahindra & Mahindra is eying Russia for an important export market. Mr. Pawan Goenka, President, Automotive and Firm Equipment Sectors, M&M said “We are working on the Russian market for our vehicles to export from here. This may not happen immediately. It will take one and half to two years from now”. The Russian market will be a big market for the company, he also added.
Ssangyong Motor, a subsidiary of M&M, exports one model to Russia as CKD (Completely Knocked Down) units. By the end of nest year, the company would add more models to its CKD line-up. Earlier this year, at the Auto Expo, New Delhi, Mr. Goenka has stated that the company is looking to increase the “local production from Russia”.
During the first quarter of this fiscal, M&M saw a growth of 37 per cent in export. The company has got a healthy response from the overseas markets like South Africa, Chile, Brazil, Sri Lanka, Nepal and Australia. M&M had sold 7,841 units in overseas markets in the first quarter of the current fiscal, compared to 5,717 units in the same period last year.
News Source: Economic Times