M&M’s introduces new Bolero model and bares 20% production increase

Mahindra & Mahindra (M&M) introduced its new version of the Bolero SUV which has a base model price of Rs633,000 rupees (US$13,738), Rs6,000 (US$121) more than the previous version. M&M, India’s largest sport utility vehicle (SUV) manufacturer said that the Bolero has been the country’s best selling SUV for five years in a row. The new model is available in three versions: SLE, SLX and ZLX, and all three are equipped with the more fuel-efficient m2DiCR diesel engine. Mahindra & Mahindra projects that it will sell more than 100,000 Boleros this fiscal year through March 2012. To meet the rising demand for the entry-level SUVs, the company will increase engine manufacturing capacity by 20% this coming fiscal year. The Bolero was first launched in 2000 and has a 30% share in the SUV market. M&M manufactures some 12,000 units of engines per month. Because of capacity constraints, there is a waiting period of six to eight weeks for the Bolero pick-up and two to three weeks for the Bolero SUV. These have affected sales and the increase in production is aimed at reducing waiting time. The new Bolero model uses fuel-saving Micro Hybrid technology which puts the engine on standby while the car is stationary. (September 9, 2011)