Scorpio is all set to enter U.S. markets

By siliconindia   |   Friday, 14 December 2007, 02:18 IST
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Chennai: Mahindra & Mahindra's (M&M's) all Indian utility vehicle, Scorpio, is all set to enter the U.S. market within in a year. The company already has orders for about 45,000 Scorpio for the first year, which is more than sold in India. During the last financial year sale in India account only about 40,000. About 285 dealers from U.S. have signed up to sell the vehicle and are investing $178 million in setting up sales and service outlets. "The timing of M&M's entry into the U.S. is perfect. With the price of the fuel going up, Americans want to buy SUVs and trucks that are not too costly to operate," John Perez, Chief Executive of Alpharetta, Georgia-based global vehicles, which will be handling Scorpio sales in the U.S, told Business Standard. "We already have 45,000 bookings for the first year. All of them are backed by letters of credit," said Perez. He hinted that Scorpio would be tagged at $25,000. The annual sale in U.S. vehicle market comes to about 15 million vehicles per year.