Mahindra will introduce six new vehicles by the end of 2012- Powen Goenka reports.

Mahindra willintroduce six new vehicles by the end of 2012- Powen Goenka reports.

NEW DELHI: Indian  auto major Mahindra & Mahindra will beunleashing six new vehicles, by the end of this year.  It will include a compact sports utilityvehicle and a shorter version of its sedan Verito.  Mahindra & Mahindra President (Automotiveand Farm Equipment sector) Pawan Goenka said on the sidelines of Auto Expo herethat  "Between now and the end ofthe next fiscal, there will be six new models from us. These should strengthenthe success we have had so far�.   Hesaid�  in the beginning of next fiscal,the company will launch a van based on the platform of commercial vehicleMaxximo, around Diwali we will have three products, which include the NXR (fromMahindra Reva), Rexton (from Ssangyong) and a compact SUV,"  

The SUV will be on an existing platform, he said withoutsharing details but added it would be a volume player. "The sub-four metreVerito will allow us to take advantage of the excise duty benefit smallcars," he said. The electric car NXR and the Rexton are of strategicimportance as they would allow the company to get into eco-friendly technologysegment and move up in the premium segment respectively, he added. Thecompany's joint venture with Navistar will also launch a 49 tonne truck, hesaid.    Asked about investments for thenext fiscal, he did not share the exact number but said till FY14 the companyhas announced investment of Rs 5000 crore on new products and capacityexpansion. Commenting on the market situation, Goenka said :"The industryis hoping that by the second half of this calendar sales will start picking upto about 10 per cent." The high interest rates which are still prevalentnow are expected to come down, while the rupee related forex situation willalso improve, he added.