Mahindra & Mahindra (M&M) is eyeing a double-digit growth in its two-wheeler business in the next two years and will also explore the inorganic growth route for expansion, a senior company official said.
“We are growing and will continue to grow to make M&M a strong brand in the two-wheeler segment. We are targeting a double-digit growth in the next two years by grabbing opportunities which will enable us to grow faster,” Mahindra & Mahindra (two-wheeler sector), President, Anoop Mathur, told PTI here.
M&M which took over the two-wheeler business of Kinetic Motor in 2008, has already launched three 125 cc scooters — two power scooters, Mahindra Rodeo and Duro — and the Mahindra Flyte.
The company is targeting men for the Rodeo, while the Duro is targeted at the entire family. The Flyte is for women commuters. The company has sold 70,008 units in FY 10.
“We have already achieved a milestone in the two-wheeler segment after selling 10,000 units within four months of launch. We are very optimistic about the future,” Mr. Mathur said.
The company presently has an eight per cent market share in the scooter segment and is looking to increase it this year.