"In the next six months we will take a decision, but the launch of vehicle will happen after two years," Mahindra & Mahindra president (automotive and farm equipment) Pawan Goenka said.
Speaking on the sidelines of the annual convention of Society of Indian Automobile Manufacturers (SIAM), he said the company is at present under discussions to start Russian operations and has been talking to various distributors.
"We are studying the market as to whether we should start with a manufacturing facility or by selling the vehicles as CBU (completely built unit) imports," Goenka added.
M&M's subsidiary SsangYong Motor has an assembly operation at present for completely knocked down (CKD) units in Russia for one model and the company plans to add more models to the line-up there by the end of next year.
When asked about possible price hikes of its products, Goenka said: "We are constantly evaluating it as margins are always under pressure. Prices will obviously go up. However, the quantum of increase will be less this time as the commodity price hike has been modest."
Commenting on the XUV 500 model, he said the company has pending orders of 15,000 units which would be cleared by November.
The company will also be launching its compact multi-purpose vehicle Quanto on September 20, he added.
On tractor sales, Goenka said August was disappointing but with monsoon deficiency down to just 12 per cent now the company is hoping for sales to pick up during the festive season.