The largest utility vehicle maker Mahindra and Mahindra Ltd and Ssangyong Motor Co. Ltd will soon begin with their work on a sport utility vehicle. The South Korean automobile giant Ssangyong Motor Co. well known for its SUVs was acquired by M&M in February 2011; now they will begin with their first joint product that will hit the Indian market in two-three years.
Vivek Nayer, senior vice president, marketing, automotive division M&M declared that it will launch its chain of service outlets that will cater only to SUVs from Mahindra and Ssangyong.
B. Bhaumik, senior vice-president and head of product development said, ?We will soon start conceptualizing a utility vehicle together. It will be a premium SUV in the range of Rs 15-20 lakh.?
Mahindra with 70% stake in Ssangyong said both firms will work together, will share technology and will develop a product. The proposed centers will be in addition to Mahindra?s existing sales and services outlets.
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>> ?More joint products are under consideration,? B. Bhaumik said.
>> At the price range of Rs 15-20 lakh it is expected to attract a lot of buyers.
Rajesh Jejurikar, chief executive of M&M said, ?The proposed chain of service outlets was a step towards further strengthening our presence in the SUV segment? These outlets will cater to the needs vehicles placed above the (Mahindra) Xylo.?
Ssangyong announced, in 2010 it sold 80,000 vehicles and now it aims to triple its sales to 300,000 by launching five facelift models by 2013 and four new models by 2016.
In the first half of the calendar year, Ssangyong registered a loss of Rs 135 crore. To expand its global market share, Ssangyong will commence using Mahindra?s existing network in South Africa, India and Egypt.
?Company will be ready with a sub-4m utility vehicle, mini Xylo. We aim to launch the vehicle by the end of this fiscal year. It will take some time to launch the sub-4m Verito sedan and that?s expected to hit Indian roads in the next fiscal year,? Bhaumik said.
Source: http://www.suvblogger.com/news/mahindra-and-ssangyong-first-joint-premium-suv/
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