On September 29, Mahindra Two Wheelers, a subsidiary of Mahindra & Mahindra , will launch the Gusto , a two-wheeler that will mark the company's first serious attempt at taking a stab at the hot-selling scooter market in India.
The launch of the Gusto comes at a time when Mahindra's existing scooter line-up has failed to match up to rivals such as the leader Honda Activa, or its leading contemporaries such as Suzuki Access, Hero Pleasure, TVS Jupiter or Yamaha Ray.
Mahindra's existing scooters, Duro and Rodeo, have been carried over from the line-up it acquired when it bought out Kinetic in 2008, and have failed to make a dent in a thriving market in the face of superior products coming from rival stables.
Thus, much will depend on Gusto -- the first product to be developed indigenously by Mahindra, and which will sport an all-aluminum construction apart from having advanced features as stronger crankshaft and bearings, high-inertia magneto and high-energy HT coil -- to turn around the company's fortunes in the segment.
In the past few years, the scooter segment has grown faster than motorcycles on a low base and contributes 25 percent of the overall two-wheeler market. According to SIAM data, the industry sold 17.5 lakh units between April and August this year, 32 percent higher than compared to the same period last year.
Mahindra's overall two-wheeler business had failed to take off, clocking accumulated losses of Rs 790 crore since fiscal year 2009 through to 2013, according to a Business Standard report .
The brand's image suffered a serious blow after its much-hyped commuter bike Stallio, launched amid much fanfare to take on the Hero Splendor (it was promoted by Aamir Khan) in 2010 had to be recalled for a gearbox issue months into its launch.
Several analysts had criticized the company's decision to enter the two-wheeler segment and there were reports the management itself was considering shutting it down.
But after ambling about for a few years, the company appears to be have put its act together.
Last year, its Centuro motorcycle was launched and became an instant success, leading to a wait period of several months.
In 2014, the group asked its top executive Pawan Goenka to take charge of the division.
Mahindra will now look to the Gusto to do in the scooter business what the Centuro has done in motorcycles: create a mark.
Clearly, the company is pulling out all stops to ensure this. Reports suggest that, in a first, the company has also roped in its tractors and utility vehicles dealership network to sell the scooter.
The company also has plans to export the scooter and the India launch will take place along with a launch in other countries such as Nepal, with many others to follow.
The company will also launch its premium sports bike, the 300cc Mojo, which would help in upping the brand quotient, if not meaningfully increase the sales chart, and there are a total of four product launches this year.
M&M Financial stock price
On September 24, 2014, at 14:15 hrs Mahindra & Mahindra Financial Services was quoting at Rs 269.65, down Rs 8.1, or 2.92 percent. The 52-week high of the share was Rs 355.90 and the 52-week low was Rs 229.50.
The company's trailing 12-month (TTM) EPS was at Rs 14.96 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 18.02. The latest book value of the company is Rs 89.58 per share. At current value, the price-to-book value of the company is 3.01.
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