Mumbai: Auto major Mahindra & Mahindra (M&M) Monday launched a new version of its light commercial vehicle Maxximo.
The new model, Maxximo Plus, is priced at Rs 3.49 lakh (ex-showroom Mumbai) and above.
It will replace the existing Maxximo, which was launched in 2010, M&M Automotive Division Chief Executive Pravin Shah told reporters here.
Currently, the capacity of Maxximo platform is 8,000 units a month and this can be increased if there is a demand, he said.
The company has invested Rs 10 crore in development of the product, which has been rolled out from M&M's plant at Chakan in Pune.
On the outlook for the auto sector, M&M Automotive Division Chief Marketing Officer Vivek Nayer said, "overall the market in the last six months was tough because of the high interest rates and other related factors. I hope the outlook will improve but then again a lot depends on how does interest rates pan out."