The recent reduction in the prices is not enough to pull the demand towards compressed natural gas (CNG) powered vehicles, said a senior official of Mahindra & Mahindra Ltd.
Speaking to reporters here, Dr Venkat Srinivas, Senior Vice President, Product Development said the reduction in CNG prices is helping a bit but not enough to pull the market towards CNG powered vehicles.
He said the CNG vehicles are largely in the national capital region.
Recently, the central government decided to reduce the CNG prices by Rs 8/kg.
Also Read | Hyundai Motor's Q1 net jumps 92% on SUVs, increased production
Srinivas was here to launch the company's new Bolero MaXX Pik-Up range of goods carriers.
According to him, the new range with a carrying capacity of 1.3 tonne to 2 tonne is available in the price band of Rs 7.85 lakh to Rs 10.33 lakh.
Srinivas said the company has a production capacity of about 17,500 units per month of Bolero range of pick up trucks and is running at full capacity.
He said last fiscal the company sold about 200,000 units of pick up vehicles.
Also Read | Indian IT spending to slow down to 4.7% this year amid global concerns
Srinivas said the new range of Bolero pick up trucks is powered by a new engine which is 15 kg lighter in weight compared to the earlier engine and has lesser friction.
He said the new models will replace the older ones barring the Bolero Classic and Bolero Camper models.
