A great fall in the world’s economy has hit every industry eventually. Among them automobile makers face a major hassle which yet can’t be resolved. As a part of it, world’s automobile tycoons General Motors and Ford Motor has decided to sell it’s most respected brand Hummer and Volvo inorder to boost their sales.
While few media reports claimed, Mahindra & Mahindra Ltd will takeover the Hummer and Volvo for better enhancement. Reacting to this matter Mahindra & Mahindra Vice Chairman Anand Mahindra told that, We are not interested in buying either General Motors Corp’s Hummer brand or Ford Motor Co’s Swedish car brand Volvo and We don’t want to acquire other problems,” To add more about these companies, Volvo was a great company with a great brand, but added it was not “affordable and digestible.” On Hummer, he stated that the brand had unfortunately come to stand for criticism of sports utility vehicles.
The Vice Chairman further added that “We’re against gas guzzling and non-environmentaly friendly. We want to position our vehicles as guilt-free SUVs,” From next month all Mahindra’s utility vehicles would have microhybrid technology as a default option, making them 5 percent to 7 percent more fuel efficient.
Anand Mahindra once again stated that “The slowdown in the Indian car industry in the last six to 12 months had been self-inflicted, rather than due to the global slowdown, because of higher interest rates that dampened consumer spending. But for the last three months Indian car market is slowly recovering from the fall”
But one thing Mahindra & Mahindra had make clear is, that they never want to take over any non profit source, they are ready to focus on their own inventions for a bright market.