Mahindra Two Wheelers (MTWL), the two-wheeler arm of Mahindra & Mahindra (M&M), may shift its focus to premium motorcycles to drive business in the future.
The company, which currently sells two motorcycle models (Mojo, Centuro) and three scooters (Duro DZ, Rodeo Uzo, Gusto), had a market share of 0.88 percent in FY2015-16, according to SIAM data. It sold a total of 1,44,355 units during the last fiscal. In FY2014-15, MTWL’s market share stood at 1.04 percent in FY2014-15 when it registered total sales of 1,65,364 units.
In October 2015, Mahindra launched its first model, the Mojo, in the entry-level midsized motorcycle segment at an introductory price of Rs 1.58 lakh (ex-showroom, Delhi). The Mojo was not just the company’s flagship model, but was also an attempt to spruce up its brand equity and recall value in the market.
It can be recalled that while talking to our sister publication Autocar Professional last year on the sidelines of the SIAM annual convention in New Delhi, Pawan Goenka, executive director and president (automotive and farm equipment sectors), M&M had said: “The Mojo clearly is not going to be something that will be huge volume-getter but it will be something that will establish Mahindra as a desired brand in the two-wheeler segment. Sometimes you put all the right pieces together but it doesn't come together very well. But in this case, the engine, the ride, the driveability, and the comfort, everything has come across very well and I am very hopeful that Mojo will do wonders for our brand.”
The single-cylinder, liquid-cooled, 295cc Mojo managed to garner cumulative sales of more than 500 units until March 2016, besides fetching decent reviews from the industry and customers. Experts say that while the Mojo could be a good touring option among the other models in this price range, the model has succeeded in getting potential customers to talk about it.
Speaking about M&M’s two-wheeler business and its future direction, Goenka said, “The two-wheeler business has been very difficult for us. We are revising our strategies to drive this business. The Mojo has been a bright light for us, and we believe that that segment (Mojo class of bikes) could be the right segment for us to be focusing upon in the future.”
According to market analysts, while MTWL may roll out variants of an existing platform to drive business under its two-wheeler umbrella, the company may not commercially launch an entirely new product platform during the ongoing fiscal.