Mahindra to launch pick-up in U.S. by year end

MUMBAI Wed May 19, 2010 3:00pm IST

Related Topics

MUMBAI (Reuters) - Mahindra & Mahindra, India's largest utility vehicles and tractor maker, said on Wednesday it would launch its compact diesel pick-up truck in the United States by the end of the year.

The launch, which will be a year behind schedule, was delayed because of changes needed to conform with U.S. regulations following extensive road tests in America.

"We wanted to give the best product to the American consumer and thereby wanted to be absolutely sure on parameters before its launch," President Pawan Goenka said in a statement.

Mahindra, which has built the pick-up on the platform of its flagship Scorpio sport utility vehicle, expects to get U.S. Environmental Protection Agency certification by July and production should start in mid-September.

The trucks would arrive in U.S. showrooms by late December, the company said.

By 0732 GMT, shares in Mahindra, worth $7.1 billion, were trading down 2 percent at 548.60 rupees in a weak Mumbai market, but have gained 3.6 percent this year while the main index is down 4.6 percent.

In 2009, the stock had nearly quadrupled, beating an 81 percent jump in the index.

(Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)

(For more business news on Reuters Money visit www.reutersmoney.in)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage