Indian auto manufacturer Mahindra and Mahindra Limited has made announcement about the launching of a low-priced mini-truck named, Maxximo. Priced at Rs 2.79 lakh, the newly launched mini-truck will target the small cargo vehicle sector. The first product to rollout from M&M's Chakan facility was recently uncovered during the Auto Expo held in the capital.

The truck is powered by 2-cylinder CRDE engine with DOHC technology and 4 valves per cylinder that can produce up to 25 bhp of power. Maxximo, which comes with a 12-month free maintenance package, has a loading capacity of 850 kg and will be able to be as fuel efficient as 20 km per litre. In a declaration, the company said, "Excellent fuel efficiency of 20 km per litre, a large loading area and 850 kg payload capacity allows the customer to carry a greater load in a single trip."

The new mini-truck features a two-tone dash, car-like tool cluster, car-like cable operated gearstick and head restraint for both driver as well as co-driver. In terms of safety, the body is made of fine steel, and the crash structure followed up N1 norms, and AIS0129 safety standards too. M&M, on Feb 01, declared its highest ever domestic auto sales for January this year.

The company recorded a growth of 67.4% in its domestic sales, which stood at 28,988 units as compared to 17,320 units in January 2009. At 2:23 pm, the shares of the company gained 2.4% to trade at Rs 1044.10 on the BSE. The share price has seen a 52-week high of Rs 11.96.70 and a low of Rs 264.80 on BSE. Current EPS & P/E ratio of the stock stood at 66.16 & 15.84 respectively.