For years, Ashok Leyland and Tata Motors have ruled the 16.6 tonne-plus medium and heavy commercial vehicle (CV) market. With a market share of over 90 per cent, they sold over 78,000 vehicles last year. But Mahindra & Mahindra, the country’s second-largest CV company by sales, is set to challenge their domination by offering trucks with capacities ranging from 16 tonnes to 44 tonnes by the end of this year.
These large CVs will be manufactured by its joint venture company, Mahindra Navistar Automotive Ltd (MNAL), which was set up in 2005. Mahindra holds 51 in the JV. Navistar International Corporation is one of
The 16-44 tonne segment is divided into two segments, rigid vehicles and tractors/trailers. M&M will make both. The medium-large CV market has, however, witnessed a major downturn due to the current slowdown. For the year ended March 2009, sales of rigid vehicles in the 16-tonne and above capacity dipped by 38 per cent, while those in the tractor trailer segment fell by 60 per cent. Since larger CVs are dependent on many sectors like infrastructure, mining, exports and construction, a slowdown in these has had a direct impact on sales. The timing is right for Mahindra’s entry as the launch will happen just as the demand is expected to pick up. It will take a full year or more for the combine to establish its dealership network and to take on established players like Tata Motors.
In 2007, Mahindra signed a second JV with Navistar to manufacture diesel engines for CVs. The joint venture, called Mahindra Navistar Engines Ltd, also has 51 per cent equity participation by M&M. The 16-40 tonne vehicles will be manufactured at the company’s Chakan facility near Pune.
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| Company Name | CMP |
|---|---|
| Maruti Suzuki | 11081.45 |
| Mahindra & Mahindra | 3013.00 |
| Hyundai Motor India | 1829.50 |
| Mercury Metals | 99.75 |
| Hindustan Motors | 21.65 |
| View more.. | |
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