Utility-vehicle maker Mahindra & Mahindra, which only recently entered the two-wheeler segment, is targetting revenues to the tune of ₹20,000 from the business by 2020, said vice-chairman and managing director Anand Mahindra said on Wednesday.
The company believes that the Indian two-wheeler industry will cross 30 million units by 2020, and is aiming for reach 3-4 million units in annual sales or 10% marketshare by this time.
The four-year-old Mahindra Two-Wheelers sold 130,000 units in 2011-12.
"There is a sizable opportunity. Penetration of two-wheeler is still very low," Mahindra said at the inauguration of Mahindra Two-Wheelers' research and development centre here. He sees 20% of revenues from the segment to come from exports.
Mahindra had acquired Kinetic Motors' two-wheeler business for ₹110 crore in July 2008, and has so far invested ₹700 crore building capacity, research and development and marketing network.
Anup Mathur, president, Mahindra Two-wheelers, said the company will launch three motorcycles this fiscal, including a relaunch of the 110-cc Stallio, which was pulled off from the market 18 months ago. A 300-cc Mojo will be launched in the last quarter of 2012-13.