chennai, October 24, 2007: Mahindra & Mahindra (M&M) launched the new Bolero Pick Up FB with power steering and hopes to achieve a growth rate of 20% this fiscal year, reports Business Standard.

It is also planning to increase its market share by 5% in the pick up category in India. At present, M&M has a market share of 63% in pick up category across India, whereas in the northern region (comprising Delhi, Uttarakhand, Uttar Pradesh, Punjab, Haryana, Jammu and Kashmir), the company has a market share of 75%.

The company feels that there is huge potential to be tapped in the pick up vehicles category. M&M plans to set up new manufacturing facilities and is in talks with the Tamil Nadu and Maharashtra government.