Mahindra & Mahindra (M&M) is phasing out the Armada and Armada Grand and replacing them with the Armada LX and Armada Grand LX.
M&M is the leader in the utility vehicle segment (61% market share in October 1999) and the tractor segment (29% market share). It is also engaged in the manufacture of light commercial vehicles (LCVs). In addition to the automobile segment, the M&M group also has interests in information technology (IT) and realty.
According to a news report appearing in a leading financial daily, the revamped Armada will have a trendier and aerodynamic front. The company has also taken steps to refurbish the engine, suspension system, tires and the braking system among other things. The company will commence production of the revamped Armada range in April 2000 with a manufacturing capacity of 800-1000 units a month. The vehicles will be on display at the Auto Expo.
The revamp of the Armada range of UVs is not cosmetic in nature and the company has redesigned the exterior and the interior to a very large extent. This is the next best option available for the company after a fresh launch. The company will also be displaying the Marshall 2000 at the Auto Expo, which will compete with TELCO's 407 range of LCVs. This marks a concerted bid by the company to wrest market share from TELCO, particularly in UVs. While TELCO has not been very liberal with new UV launches, M&M continues to innovate so as to sustain competitiveness.
Mahindra & Mahindra has announced its financial results for the second quarter of the financial year 2016-17 (2QFY17). During the quarter, revenues grew by 15.6% YoY and adjusted net profits grew by 18.5%.
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