Mahindra Bets on Decade-Old Bolero to Beat Tata: Corporate India
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Mahindra & Mahindra Ltd., the maker of the Bolero utility carrier, is betting on the decade-old model to help it overtake Tata Motors Ltd. as India’s third-largest seller of passenger vehicles.
Demand from small towns and villages in the world’s second-most populous nation will drive sales of the Bolero, according to Pawan Goenka, the president of the company’s automobile business. Deliveries of the passenger variant of the Bolero rose 17 percent to 117,665 in the year ended March 31, while those of the Bolero and Genio pickup truck models surged 41 percent, data provided by the Society of Indian Automobile Manufacturers show.