Mahindra Trucks and Buses aims to double its market share in heavy commercial vehicle segment in India in the next two years with introduction of new intermediary commercial vehicle range and new set of small commercial vehicles, informed Nalin Mehta, MD & CEO at Mahindra Bus & Trucks. The company will invest about Rs 700 crore in the new intermediary segment products. Currently, Mahindra has about 3.5 percent market share at 500-600 units of HCVs sold every month. It sells similar number of LCVs every month. The company is soon going to enter intermediary – 8 tonne to 16 tonne vehicle category where Volvo Eicher Commercial Vehicles has been quite successful. Mahindra will also create a new segment by launching vehicles in 3.5 tonne to 7.5 tonne category.
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