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:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Barack Obama in India

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

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