MAHINDRA MULLS LOCAL ASSEMBLY
MAHINDRA South Africa is gearing up for a new phase of growth and expansion after posting healthy growth of 12,7% for the financial year 2017.
While the South African automotive market has contracted by 2,9% over the past year, Mahindra has moved from eighth to sixth place in the overall pick-up sales figures, beating several older and more established brands.
Rajesh Gupta, the newly appointed CEO of MSA, who joins the company after a successful career for Mahindra in India said Mahindra has slowly and organically grown its market share and reach in southern Africa since entering the market in 2004. He said Mahindra South Africa will soon announce details of a local assembly facility for certain Mahindra vehicles for the local and export markets.
“For the next step in our strategy of becoming a truly South African automotive player, we will start with the assembly of the Mahindra Pik-Up on local soil. This will offer us a sound footing on which to further entrench our South African sales success.”
Mahindra’s move to local vehicle manufacturing will be supported by the expansion of its range of products and services in South Africa.
Avinash Bapat, chief financial officer for Mahindra South Africa, said the group’s sales over the past five years (without smaller brands with annual sales of fewer than 1 000 units) shows Mahindra rates among the the five fastest growing brands in South Africa.
The Mahindra Bolero is a cornerstone of the brand’s growth in SA.