Mahindra & Mahindra (M&M) created a new segment between mini trucks and three wheelers when it launched its sub-one tonne four-wheeler Mahindra Gio less than a couple of months ago. This move has had other players including Tata Motors and Piaggio Vehicles India making a play for this market.
While Tata Motors is learnt to be working at a furious pace on its 0.5 tonne four wheeler codenamed ?Penguin? based on a 350cc diesel engine, Piaggio Vehicles says it is in the process of completing homologation formalities for its yet-to-be named ?mini truck?. ? We are seriously working on a product which should be ready before the end of March 2010. This would be built on a completely new platform,? Ravi Chopra, MD, Piaggio Vehicles said.
?Our market strategy is simple. We would like to offer a range of product for the consumer with different applications and for different needs,? he said. Piaggio Vehicles is among the market leaders in the three-wheeler diesel cargo segment with a market share of over 50%..
?The market is buoyant again and the worst is over. Year 2010 could provide abundant opportunities for most players,? Chopra said. Although 2009 saw the impact of the recession, the upward trend began from this April 2009 and after September, there has been no looking back, he said. For Piaggio, despite inadequate performance of the industry in the first quarter of 2009, the company has been good, he said. From April ?09 to November ?09, the company has had an overall market share of 42% in the three-wheeler segment. The company had earlier launched its Ape Truk Plus ? a 4-wheeler cargo truck in the one-tonne category.