Anand Mahindra: Mahindra & Mahindra Group Chairman Anand Mahindra has exposed the ‘group’ by a big mistake. While talking on a forum, he mentioned the ‘mistake’ of a decade ago.
- Mahindra entered the two-wheeler segment in 2008 after purchasing Kinetic.
- Sharing the stage with Virgin Group founder Richard Branson, Anand Mahindra has exposed his group’s mistake.
- Even after more than a decade, the Mahindra & Mahindra group has not found success in the commuter bike segment.
New Delhi: Anand Mahindra, chairman of the domestic automobile conglomerate Mahindra & Mahindra, has revealed his big mistake on Wednesday. He said that the entry into the commuting bike segment 10 years ago was a big failure for the group.
The Mahindra & Mahindra Group ventured into two-wheeler Vahan Segamat, after purchasing Kinetic in 2008. The company relaunched the Freedom Bike under the ‘Mojo’ label, but the company has not found a place in the country’s entry-level two-wheeler segment even after a decade.
Hero MotoCorp and Japanese company Honda dominate the country’s entry level two wheeler market space. The two companies together rule two-thirds of the market.
This year, the sales of these two companies reached 21 million units. Talking about Mahindra, Mahindra has sold only 4004 units in FY 2019, which is 73% less than FY 2018.
Only Kawasaki Motor has sold 31115 units this year. All these figures are according to SIAM data. According to SIAM data, the domestic two-wheeler market has reached 2.12 crore units in the year commencing from March 2019, which is 4.86% higher than the FY 2018.
Mahindra said that with a strong understanding of ecosystem, distribution, R&D and brand positioning, he has landed with confidence of winning in the two-wheeler market.
He told, ‘We knew our dreams well and we also had the right thing, but’ how to win ‘is where we went wrong.’ Mahindra said this at an event in Virgin Atlantic.
Sharing the stage with Virgin Group founder Richard Branson, he said that he brought the premium bike brand Java to the country a year ago and is a successful brand. Mahindra said that soon he will also launch BSA bikes, which he launched earlier this year.