Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s joint venture (JV) company with Navistar of the US - Mahindra Navistar Automotive is planning to export right-hand drive (RHD) commercial vehicles manufactured in India to overseas markets like South Africa and SAARC countries.

In the first year of the Mahindra Navistar launch, the company is trying to establish its presence across various geographies in the country but want to consolidate its presence in the domestic market first. The company aims to sell 50,000 heavy commercial vehicles (HCVs) and 20,000 light commercial vehicles (LCVs) in the next three to four years. While the HCV segment was growing in the country at a rate of 40 percent, the LCV segment was growing at 15 percent.

Besides, M&M reported a jump of 23% in its April sales to 32,090 units compared with 26,043 units in the year ago-period. Domestic sales of the company increased 21% to 30,349 units in April as against 25,037 units in the same month last year.

The exports of the company surged to 1,741 vehicles during the month as compared to 856 units dispatched to the overseas markets same month last year. The exports of the company during the month include 150 units of Mahindra Verito model.