Page 3 - Mahindra

Mahindra reports 10% decline in total sales for December

Mahindra & Mahindra (M&M) on Friday reported a 10.3 per cent decline in total sales at 35,187 units in December, 2020. The company had sold 39,230 units in December 2019, M&M said in a statement. In the domestic market, passenger vehicle sales were up 3 per cent to 16,182 units last month, compared to 15,691 units in December 2019. In the commercial vehicles segment, the company sold 16,795 vehicles in the domestic market last month, as against 21,390 units in December 2019, a drop of 21.48 per cent. Exports increased by 3 per cent to 2,210 units in December 2020, as against 2,149 units in the year-ago month. "Our overall sales have been affected due to the continuing supply chain challenges related to the constantly changing global environment, more specifically the supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs)," M&M Chief Executive Officer Automotive Division Veejay Nakra said. Demand continues to remain strong even ...

Mahindra's Korean subsidiary Ssangyong Motor files for bankruptcy

Move comes a week after the troubled automaker defaulted on a loan repayment to JP Morgan

Mahindra Group plans to train another half a million youth in 5 years

The company said it plans to train another five lakh (0.5 million) youth under its various skill training initiatives

Mahindra subsidiary Ssangyong Motor Co misses loan repayment to JP Morgan

The South Korea listed SUV maker that has been battered by the pandemic, has outstanding loans aggregating 100 billion Korean Won (approximately Rs 680 crore)

In pics: Mahindra unveils all-new Thar, price starts at Rs 9.8 lakh

Mahindra & Mahindra launched the all-new version of its sports utility vehicle Thar, price between Rs 9.8 lakh and Rs 13.75 lakh (ex-showroom)

Letter to BS: Nothing wrong in dynastic governance in the corporate world

Roshni Nadar Malhotra has rightfully found her place as the Chairman of HCL with her father as the chief strategist

Mahindra First Choice embarks on expansion, plans to add 30 outlets soon

Company's June volumes to reach 80% of pre-Covid levels, firm plans to have 1,250 dealers by FY21-end as it eyes overall sales of 200,000 units by FY21

Brand values made in India

Whether it is air-conditioners, home appliances, entertainment electronics, and even fast-moving consumer goods, the dominant competitors remain foreign

The AGM: Obituary of a unique Dalal Street tradition

These shareholder-led AGMs are a throwback to the pre-reforms era when the annual meetings served to engage and reassure shareholders and often hit them up for more capital

Mahindra Ecole students develop district-wise tracker for Covid-19 cases

The date for tracker is obtained from credible sources including Ministry of Health and reputed news outlets, according to the developers

Car sales drop again after festive season; industry pins hope on Dec demand

Maruti Suzuki reported sales of 150,630 passenger vehicles in the domestic market in November, down 1.9 per cent over 153,539 units in the corresponding month last year

Mahindra's Classic Legends to commence bookings of Jawa Perak in Jan

Company says the response to the BS VI-compliant brand has exceeded expectations, deliveries to commence April 2

Mahindra's subsidiary to acquire 100% stake in Peugeot Motorcycles

The move, it said, "reaffirms the commitment" of the group to future growth of the French company

Maruti Suzuki's PV market share shrinks in Apr-Aug; Hyundai, Mahindra gain

Other players like Renault India, Skoda Auto, Volkswagen India saw their market shares increase marginally during April-August this year

Mahindra and Escorts stocks rise 4% each, riding on higher volumes

Street expects upward revision in growth guidance if trend persists

Anand Mahindra pitches for lower GST or cess rollback to revive auto sector

Pitching for a lower GST or a rollback of the cess to pull the automobile industry out of the slowdown, M&M group chairman Anand Mahindra on Wednesday said that a revival of the industry would have a ripple effect on the entire economy. The domestic auto industry has been in the throes of crisis for almost one year now as the sales are falling month after month, forcing manufacturers to temporarily shut factories and laying of workers. As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal. "I do believe that kick-starting the auto industry with a few short-term measures will serve a greater national purpose," said Mahindra addressing the company's shareholders at its 73rd AGM here. Along with long-term measures, the short-term measures also required that would remove the immediate barriers to making autos affordable, he said. "The most obvious and welcome first aid would be some temporary relief on the GST front, ...

Australia grounds Mahindra Aerospace GA8 planes after Swedish crash

There are 228 GA8 planes worldwide, 63 of which are registered in Australia, CASA said

Mahindra wins Gold Award in South Africa for fairing on various indicators

The automobile giant, which has more than 60 dealers in South Africa, secured the top position out of the 29 vehicle brands surveyed for the awards

Mahindra to increase price of vehicles by up to Rs 73,000 from April

Auto major Mahindra & Mahindra (M&M) Thursday said it will increase the price of its passenger and commercial vehicles by Rs 5,000 to Rs 73,000 from April to partially offset the impact of rising input costs. The price of the company's vehicles will go up by 0.5 per cent to 2.7 per cent from next month due to the price hike, the company said in a statement. "This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1 that have also led to cost increases. While we have made efforts to reduce our costs, it has not been possible to hold back the price increase," M&M President Automotive Sector Rajan Wadhera said in the statement. Consequently, the company is taking a price increase from April 1, he added. The company sells various utility vehicles ranging from newly launched compact SUV XUV300 to premium SUV Alturas G4. M&M also sells various commercial vehicles including Supro and Jeeto in the domestic ...

Mahindra puts SsangYong launch in US, Indian car markets on hold

Home grown auto major Mahindra & Mahindra (M&M) has put on hold plans to introduce SsangYong brand in the US, a top company official said. The company is also averse to introducing SsangYong Motor Company branded cars in India in the short to medium term. "If we had done the launch of SsangYong in the US we probably would have launched it with a different name...in fact we have decided right now to put it on hold (US launch)," M&M Managing Director Pawan Goenka told reporters here on the sidelines of the launch of SUV Alturas G4. He was replying to a query if the Mumbai-based firm was planning to change the name of its South Korean subsidiary which it acquired in 2011. Goenka said the jury is still out on the matter, with some supporting a name change while others opposing it. "Our global distributors are against it. As of now we have not decided on it as this matter is not in our priority list right now" he added. Last year, Mahindra Group Chairman Anand Mahindra, while ..