UPDATE 1-India's Mahindra says growing competition to hit market share

Newswire

(Adds quotes, details) By Swati Pandey MUMBAI, May 30 (Reuters) - Mahindra and Mahindra Ltd , India's biggest sports utility vehicle (SUV) manufacturer, warned that growing competition would erode its market share after posting a forecast-beating rise in quarterly net profit. "With so much competition in SUVs now, market share is bound to go down," Pawan Goenka, president of Mahindra's automotive and farm equipment sectors, said on Thursday. ...

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