The Gusto will be first launched in the Northern and Western markets of India and Nepal on September 29, followed by South Asia, Central America and Africa over few months.
Homegrown auto major Mahindra & Mahindra is looking to take on scooter market leader Honda's flagship model Activa with its upcoming model Gusto. The Gusto will be first launched in the Northern and Western markets of India and Nepal on September 29, followed by South Asia, Central America and Africa over few months.
"The Gusto is a 110 cc scooter and we will reveal the product details when we formally launch it next week. We hope to create a unique proposition for our customer with it," M&M Chief Executive -- Farm Equipment & Two Wheeler Division & Member of the Group Executive Board Rajesh Jejurikar told PTI.
He said the company was confident of putting up a challenge to market leader Activa from Honda.
"We have a good product and we think we have a strong value proposition and a product offering," he said when asked as to how the Gusto would take on established models. The Gusto has been developed as a global scooter at the company's R&D facility in Pune. It is the first product developed independently by the company after it acquired Kinetic six years back.
"The Gusto's distinctive, contemporary styling has its origins in Italy and it has been conceptualised based on extensive research and in-depth consumer insights," he added. On the launch programme, Jejurikar said: "We are now ready to launch the Gusto in the Northern and Western markets of India and Nepal on September 29. We will launch in the Southern and Eastern markets of India as well as South Asia, Central America and Africa, in a few months."
While the company hasn't shared the technical details of the Gusto, it said the new scooter will have an all aluminium M-TEC engine with advanced features such as a stronger crankshaft and bearings, high energy HT (ignition) coil and series regulator to deliver superior power, efficiency and reliability.
Sounding bullish on the scooter market growth, Jejurikar said this year it has grown by 30 per cent. As per SIAM data, in the April-August period this fiscal, the domestic scooter market stood at 17,51,881 units as against 13,40,170 units in the same period last fiscal.
M&M stock price
On September 23, 2014, Mahindra and Mahindra closed at Rs 1347.90, down Rs 27.1, or 1.97 percent. The 52-week high of the share was Rs 1421.00 and the 52-week low was Rs 815.50.
The company's trailing 12-month (TTM) EPS was at Rs 59.61 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 22.61. The latest book value of the company is Rs 270.60 per share. At current value, the price-to-book value of the company is 4.98.
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