M&M TO GO SLOW WITH XYLO IN NEW EXPORT MARKETS

 Mahindra & Mahindra plans to keep exports for Xylo confined primarily to South Africa for at least the next six months due to the subdued export market.
This is despite the company unveiling its newly launched multipurpose vehicle in the African market this week.
 
Domestic demand
M&M expects robust domestic demand mainly from the rural areas to boost sales.
Export market is subdued. Demand will be mainly from the domestic market. I believe there will be a strong showing in March by all auto makers. Lower interest rates, more liquidity and raw material prices are falling. But after a slow April, May will be very crucial, Mr Anand Mahindra, Vice-Chairman and Managing Director, M&M, told Business Line.
 
He said that though the company had not made any changes in its export plans, the company did not intend to export Xylo to new markets over the next few months.
While a series of measures have been taken to boost demand (in the domestic market), a major concern that still remains was the possibility of a bad monsoon affecting sales, he said.  On acquisitions, he said, We will not go for acquisitions just because the valuations are currently low. If it makes sense technologically, we will go for it.