By IANS,
Kolkata: May 25 (IANS) Mahindra Navistar Automotives Ltd is targeting sales of 50,000 units of heavy commercial vehicles (HCVs) and 20,000 units of light commercial vehicles (LCV) in the next three to four years, a top executive of the company said Wednesday.
“We sold 11,000 units of LCVs last year. The company just started production of HCVs. The company is aiming to sell 50,000 units of HCVs and 20,000 units of LCVs in the next three to four years,” Nalin Mehta, managing director, Mahindra Navistar Automotives Ltd, said here.
He said the company had about 15 percent market share in the LCV segment in India.
HCV and LCV markets currently 160,000 units and 240,000 units respectively in the country and the markets were growing at a rate of 40 percent and 15 percent per annum respectively, he said.
Mahindra Navistar offers products like rigid trucks, multi-axle trucks, tippers and tractor trailers.
“Initially, we are concentrating on the domestic market. We will be eyeing to sell our products in South Africa and SAARC (South Asian Association for Regional Cooperation) countries in the next two years,” Mehta said.