- Mahindra bucking declining market trend
- Details of local vehicle assembly from May
- Big development plans for SA export future
JOHANNESBURG, Gauteng – Mahindra SA, a relative newcomer to the South African auto market, says it is heading for a new phase of growth and expansion in this country.
It also has plans to introduce an assembly plant to this country.
The dominant SUV- and bakkie-maker in India ended its financial year in March 2018 showing 12.7% growth to take the brand to a compound annual growth rate of 19% through the past two years.
Avinash Bapat, Mahindra SA’s chief financial officer, told The Corner in a media release: “Measured in terms of our sales over the past five years and removing smaller brands with annual sales of less than 1000 units, Mahindra is one of the five fastest-growing brands in South Africa.”
‘SOLID START TO THE YEAR’S SALES
Compound annual growth was 4.6% over the past five years thanks, the company says, to the rapid introduction of new models such as the KUV mini-SUV, the TUV 300 and the upgraded Pik-Up range.
The SA auto market contracted by 2.9% through the same period but Mahindra retail grew by 26% compared to April 2017 – ”a solid start to a new financial year”.
Mahindra has moved from eighth to sixth in the overall bakkie sales chart, ahead of older established brands.
Rajesh Gupta, new SA CEO following a Mahindra career in India. “Mahindra entered the SA market 2004 and has slowly and organically grown its market share across South Africa and into neighbouring countries.
“In the past two years, however, we have more aggressively introduced new models and extended our reach in Southern Africa in step with our long-term strategy of becoming
”We intend to become a significant African automotive player.”
LOCAL WILL BE LEKKER
Which is where local production comes in…
“The next step here will be assembly of the Pik-Up as a sound footing on which to further entrench our South African sales success.”
Local assembly will be supported by expansion of products and services in SA.