Mahindra Two Wheelers Ltd. (MTWL), a part of the USD 16.2 billion Mahindra Group and one of the newest entrants to the fast expanding Indian two wheeler market, today announced its foray into the Latin American market with its two wheeler portfolio comprising of the Duro DZ, Pantero and Centuro motorcycles.
The products were unveiled in Nicaragua on August 20, 2013 and Guatemala City on August 23, 2013, in the presence of eminent dignitaries, dealers, bankers, business associates and media houses.
Commenting on the development, Mr. Viren Popli, Executive Vice President, Mahindra Two Wheelers said, “International business is a key component of our growth strategy and we are pleased to venture into the Latin American market which is amongst the fastest growing markets in the world. Mahindra is a recognised name in Latin America where it sells its range of vehicles and we have strong local partners who are committed to ensure customer satisfaction and volume growth in these markets. We will continue to expand our footprint across the globe as we enhance our range of customer centric two wheelers, bringing more and more customers into the Mahindra fold.”
Mr.Sandeep Singh Senior General Manager & Head – Exports, Mahindra Two Wheelers Ltd. further added, “With these launches we have initiated operations in 11 markets spread across South Asia, Africa, Middle East and Latin America.We will continue to expand our presence across the globe while remaining focused on customer satisfaction and volume growth.”
Mahindra Two Wheelers is putting in place all essential infrastructure comprising of its sales, service and spares set up and SKD assembly facilities in Guatemala City and Managua, besides a network of dealers in both countries. Mahindra Two Wheelers has also started operations in Sri Lanka and Bangladesh recently. It is rapidly expanding its sales and service network across these countries. It has also set up assembly units in both these markets.