Mahindra & Mahindra will announce a new light commercial vehicle called Jeeto by the end of this month. This vehicle is aimed to take over the minitruck Ace Zip, a similar offering in the segment from the domestic manufacturer Tata.
The firm that has witnessed a decline in the sales volume of the light commercial vehicle segment during the last couple of years and it is hoping to see a turnaround with the introduction of the new Jeeto in the market. This offering is expected to cash in on the anticipated rebound in the market.
Regarding this, Pravin Shah, the M&M President & Chief Executive of Automotive claimed that the Jeeto will create a new segment in the sub-two tonne segment. He stated that the firm is optimistic of their model of adding volumes to the light commercial vehicles sales that has gone down in the last two years. He confirmed that the Jeeto will be launched in by the end of this month.
As per the Society of Indian Automotive Manufacturers, an auto industry body, the light commercial vehicle sales have been witnessing a drop for the past 25 months except for an increase in September last year. In May, the sales of this segment dropped by 7.19 percent as 28,226 units were sold in this period. The sales figure in the same time period last year was 30,414 units.
Shah expressed his confidence on this new offering for a turnaround and stated that the market has bottomed out and all the parameters point out that there are positive sentiments. With the launch of the Jeeto, the firm is planning to create a compelling new value preposition that will not rival the traditional system. However, it will definitely be a delight to the customers.
M&M’s Jeeto is expected to outshine Tata’s Ace Zip that has a payload capacity of 600 kgs and carrying a price tag of Rs 2.55 lakh. The firm launched products such as Gio and Maxximo Plus mini trucks in the light commercial vehicle segment.
Mahindra & Mahindra is geared up to launch the new generation m_Durga engine in its upcoming offering Jeeto. This engine is a diesel one that is designed to render refined performance and fuel efficiency. The Jeeto will be made at Mahindra’s extended automotive facility located at Zaheerabas in Telangana.