A South African newspaper report suggests that Mahindra has put on hold plans to assemble vehicles in South Africa due to ‘turbulent market conditions’.
However, the report in Business Day also said that Mahindra has not pulled out of the assembly project and will proceed with plans when the economy shows signs of recovery.
South Africa’s vehicle market has plunged this year although there are signs of a bottoming out of the market.
South Africa is a large market for pick-ups (or ‘bakkies’) and SUVs – an area of product strength for Mahindra.
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