According to an official statement released on Monday, M&M is unwavering in its dedication to the utility vehicle utility vehicle (UV) segment and has plans to maintain its presence in the passenger vehicle category by introducing electric cars (EVs).
Sales patterns from April to February show that the company is on course to break the 8 lakh sales milestone in the current fiscal year, up from 6.9 lakh units in the previous fiscal year.
During the opening of a dealership by the Landmark group, Baneswar Banerjee, the national sales head for M&M, declared that the business had sold 7.56 lakh units in the passenger, commercial, and three-wheeler segments in the previous 11 months. By March 2024, he hopes to surpass the eight lakh milestone.
Notwithstanding the ongoing development of the nation’s EV charging infrastructure, M&M intends to launch three all electric utility cars. The firm presently sells the XUV 400 in the EV market. The upcoming models, which will continue to concentrate on UVs and SUVs, will be constructed on a specific EV platform known as “born EV.”
In the passenger car sector, Banerjee emphasized, M&M will continue to aggressively pursue pure-EV cars while maintaining an emphasis on the utility vehicle segment. Including all passenger cars, commercial vehicles, and three-wheelers, the eight lakh unit sales milestone for this fiscal year is met.
SUV sales for the company increased 40% year over year in February to 42,401 units, and sales are predicted to continue in March. Banerjee intimated that at least one model is anticipated to make its debut early in the upcoming fiscal year, even if he did not provide a date for the introduction of the new EV platform.
He believes that as the network of EV charging stations grows, there will be a significant demand for electric SUVs and UVs. As part of its dedication to environmentally friendly transportation, M&M is also investigating hydrogen and liquefied natural gas (LNG) as alternative fuels.
With regard to product offers and investments, Banerjee voiced high expectations for the company’s EV lineup, indicating a promising future for M&M in the electric vehicle industry.
