After beating and snatching the third position from Tata Motors in domestic market, Mahindra is targeting to do the same in Sri Lanka and become No. 1 in the country within next two years. Talking about the figures, M&M is behind Tata Motors by only a few thousand units in Sri Lanka.
Mr. Pradeep Kumar, Vice President, International Operations for automotive and Firm Equipment Sectors, M&M, said: “We hope that in the next two years, we become No 1 in auto (segment) in Sri Lanka. We should be able to overtake them (Tata Motors) in a few years time”.
As a matter of fact, Sri Lanka is the largest export export market for M&M. Talking bout growths in the island country, Mr. M. Ruzbeh, CEO, Internal Operations for automotive and Firm Equipment Sectors, M&M, said: “in 2010 fiscal, we sold 500 vehicles and last year, we sold 11,000 vehicles. This is the kind of growth, we have been getting from the market there”. According to the company’s estimate, the overall market in Sri Lanka is estimated to be around 35,000 vehicles and M&M aims to sell 15,000 vehicles till March, in order to gain leadership.
Mr. Ratan N. Tata has also appreciated M&M with their success as he said that aid he had great respect for Mahindras for their success even though he has a degree of sadness and shame to see that M&M has overtaken his company in the market sweepstakes.
News Source: Economic Times