Mahindra & Mahindra (M&M) two-wheelers today said it is looking to achieve double-digit growth in the next five years and will explore acquisition opportunities to reach the target.
"The group philosophy is to grow faster by grabbing opportunities. We are part of the group and not exempted from that. We are looking for opportunities that would help us grow faster," M&M two-wheeler segment President Anoop Mathur said in an interview.
As part of the $6.3-billion M&M Group, we always look for opportunities to grow, Mathur said.
The senior executive was here to participate in a two-day brain storming session of top executives of the Mahindra group. However, Mathur, declined to comment if the company was holding discussions with any group for acquisition.
On future plans, he said, the industry has been growing at 22-23 per cent annually and the company has an excellent opportunity to become one of the top players in the industry.
Mahindra brand value coupled with marketing opportunities and our hardwork would sure help us achieve our goals, Mathur said.
"The two-wheeler arm of M&M group started retailing gearless scooters from September last year and crossed 10,000- mark last month, averaging sales of around 7,000 units a month."
"The company targets sales of 15,000 units per month by April. The figure (10,000 units sales) is indeed a landmark for us. It is just four months of launch of our scooter portfolio. But it is not end of the road," Mathur said, adding that the company will always look to perform better when compared to previous month or year.
He said the plant capacity is five lakh vehicles a year and will soon reach 100 per cent capacity utilisation. The present dealer strength across the country is 320 and would be expanded to other areas soon.