Mahindra names its All New Commercial Vehicle as ‘Jeeto’

Mumbai, June 15: Mahindra & Mahindra Ltd. (M&M), a part of the US $16.9 billion Mahindra Group, today announced that its soon to be launched all new small commercial vehicle, is named ‘Jeeto’. A versatile new product, Jeeto is designed to cater to the varied needs of the small commercial load segment customers.

The brand name ‘Jeeto’ epitomizes the vehicle’s winning streak and its highly efficient performance for last mile distribution of goods, which shall enable its owners to prosper. Jeeto reflects Mahindra’s core DNA of trust, confidence and ruggedness. The vehicle will be manufactured at Mahindra’s extended automotive manufacturing facility at Zaheerabad in Telengana.

Speaking on Mahindra Jeeto, Pravin Shah, President & Chief Executive (Automotive), M&M
Ltd. said “We are all set to create a new benchmark in the small commercial vehicle segment
with Jeeto, which truly embodies the Mahindra Rise philosophy. It will enable our customers to
enhance their earnings and help them progress in life. Today Mahindra offers the widest range of commercial vehicles to cater to the varied needs of its customers and this has been possible
due to the customer insights which we have worked upon. With the Jeeto we are planning to
create a compelling new value proposition that will not only challenge the conventional but will also delight our customers”.

The company is also set to introduce the new generation m_Dura engine on Jeeto. An all new engine from the Mahindra stable, m_Dura is a direct injection (DI) diesel engine designed for refined performance and fuel efficiency.

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Impact of Excise Hike on Car Sales

Impact of the hike of two per cent excise duty on cars was clear visible as the sale of passenger cars witnessed rise of 3.4 per cent in April 2012 comparing the figures of April 2011.

1,68,351 units of cars were sold in April this year comparing 1,62,813 units sold in the April 2011. The car cars rose by 5538 unit in last decade (3.4 per cent). According to the figures released by the Society of Indian Automobile Manufacturers (Siam) on Thursday.

The hike in the excise duty in the budget and the interest rate hike by the apex bank could be the major reason hitting the car sales as experts believe. The hike in car prices due to hike in excise also weigh high on the car sales this year.

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BSE Sensex and Nifty end in Red

Business News; The trading session on Wednesday was volatile throughout the day, the BSE Sensex closed in red at 17,118.90 with 138.46 points down while the Nifty registered a fall of 46.30 points and ended at 5196.85 points.

In the Nifty the major losers were JPASSOCIAT, Crain, RPower, KotakBank and RCom. The gainers were - TataSteel, Dr Reddy, Ranbaxy, Maruti and Siemens.

At BSE Sensex losers were - Hindalco Inds, ONGC, Sterlite Inds, SBI, ICICI Bank, NTPC, Bajaj Auto. And gainers were - Tata Steel, Maruti Suzuki, Wipro, ITC, L&T, DLF, Cipla, Coal India, Gail India.

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Shining Car Market in India!

Business News: Good news for the auto market in India that car sales went up in November 2011 comparing to the last year statistics. Most of the new models and variant cars impressed customers.

The car market in India may shine in the next year also (2012). Indian economy has been facing the rough patches of the global slowdown, where the GDP achievement plunged. But the car market has been its on pace, there was no impact of slowdown on car market in India.

It can be expected that the new year 2012 would be great one for the car markers and auto companies in India. The stock market is however disappointed investors as the BSE and Nifty tumbled many times leaving big loss in the market.

The impressive sale of automobile particularly cars in India, will help the auto shares in the stock market. Hope the lead will bump the stock market in India. The BSE today moved up 360 points following positive signal from the global stock markets.

The car market in India will shine further as the big occasion the year end of 2011 and welcome note of 2012, and customers have many options to chose the best models introduced this year.

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