The new heavy commercial truck series launched under the brand name Blazo by Mahindra and Mahindra's Truck and Bus Division (MTBD) last month has already received 6,500 inquires and the company expects the new series to drive its goal of doubling its market share to around 7 per cent from the present 3.4 per cent in next couple years.
"The response has been good and deliveries are growing steadily as we have also promised full refund if the our patented FUELSMART engine technology did not deliver the promise of superior mileage than any other existing vehicle used by the customers," the Mahindra's MTBD chief executive officer Nalin Mehta said on the occasion of the Blazo's first regional launch in Hyderabad on Wednesday.
Blazo series comes in 55 variants in 25-49 tonne range among trucks, tippers and tractor trailers and was expected to offer anywhere between 3-8 percent additional mileage over its competition. The company, however, will keep producing the existing models as well.
Mehta said the HCV sales have regained momentum in the country and growing now at 35 per cent year-on-year while Mahindra's sales are registering a near double growth of 65 per cent. "This is the reason why we are confident that even in a growing market we will be doubling our market share in next two years,"he said while explaining about the HCV market, which is currently dominated by Tata and Ashok Leyland.
The company is also considering Blazo's exports to Africa from next year, according to Mehta.
In response to a question on the company's proposed entry in big size buses, he said the work on will begin soon after the ongoing plans of developing the intermediate light commercial vehicles of 8-12 tonne capacity completed. The company has been investing about Rs 600 crore in the intermediate LCV segment vehicles, which are expected to hit the showrooms in over two years from now.