Mahindra Trucks and Buses Ltd will relook into its bus business strategy in a year or two after roll out of Intermediate Commercial Vehicles (ICVs) is complete, a top company official said on Tuesday.
“We are currently focused on ICVs and new light commercial Vehicles (LCVs). We will take a relook on bus business in a year or two after the rollout of ICV is complete,” said Managing Director and CEO Nalin Mehta.
The company is at present focusing on implementing the ongoing Rs 700 crore project to rollout ICVs and more LCVs along with doubling market share in HCVs.
The company planned to invest Rs 700 crore in three years, beginning last year for new ICV segment and broadening LCVs. In HCV segment, the company invested about Rs 1,000 crore.
The company expects commercial vehicle demand to pickup. “Good monsoon, GST rollout and better roads will help drive growth,” Mehta said, adding that the company aimed at doubling market share in HCVs in the current fiscal from 4 per cent.
Mahindra currently operates in the 15-42 seater small bus segment with a market share about 8 per cent market share.