Mahindra & Mahindra’s (M&M) climb to the second position in India’s passenger vehicle market is a consequence of a strategy centred on profitable growth, capital discipline and operating leverage rather than an aggressive push for volumes, a top company executive said. “Being number two is not our goal. It is a consequence of what we are doing,” Rajesh Jejurikar, executive director and CEO – automotive and farm equipment, M&M, told ET. “The objective is to deliver growth, market share and margins together. Volume growth without returns is not sustainable.”
M&M is evaluating multiple land parcels across states for a greenfield plant as it looks to expand its utility vehicle capacity beyond the 1 million unit mark by FY27. Jejurikar said that the search is not restricted to existing manufacturing clusters.
