Kolkata: Mahindra & Mahindra is optimistic about its new 'fuel smart' technology used in the new mini-truck Maxximo Plus, claimed to be the first in the Indian market, being introduced in passenger vehicles.
"The technology is with us. So, we can," M&M chief marketing officer (automotive) Vivek Nayer said here Thursday at the launch of the 0.85-tonne payload Maxximo Plus.
"However, nothing is decided yet. First, let us see the response to this product (Maxximo), then we will decide," he said.
He said that there is a 10 percent fuel efficiency with this technology in the new version over the previous Maxximo mini-truck.
Nayer said that the entire (fuel saving) technology developed at a cost of Rs 10 crore is completely indigenous and the company has applied for a patent.
Mahindra has replaced Maxximo model with Maxximo Plus which is added with fuel smart technology that allows customers to choose between higher power and higher mileage option with a simple switch.
Mahindra cumulative sales in the last three years of Maxximo is 1.6 lakh units.
Nayer said the company has a market share of 33 percent in sub 2-tonne cargo LCV segment out of the 3.5-lakh- vehicles-a-year market.