Rajesh Jejurikar, who heads automotive business operations of the Mumbai-based utility maker, reported that the company does not have an immediate plan to strengthen the car strategy rather M&M wants to have a single car in a portfolio of SUVs.
The company only has Verito in the passenger car segment, which is the re launched version of its entry-level sedan, Logan. Moreover, the company also plans to introduce a small car under the Verito brand.
In the year 2005, M&M had inked a joint venture with French auto major and launched Logan. But after some initial success, the sales of the car had started to dip on the back of excise duty changes and perception issues. This had dampened the consumer confidence towards the car.
M&M is planning to introduce Ssangyong's Rexton and Korando C in the domestic market.