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Mahindra & Mahindra
Mahindra & Mahindra (M&M) on Monday said its total sales increased by 25 per cent to 45,640 units in April. The company's total sales stood at 36,437 units in April 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 23 per cent to 22,526 units last month against 18,285 in April last year, the auto major said in a statement. Commercial vehicle sales increased to 20,411 units last month compared to 16,147 in April 2021. The company said its exports last month stood at 2,703 units against 2,005 in the year-ago period. "We continued our growth trajectory in the SUV segment with sales of 22,168 vehicles, registering a growth of 22 per cent. Our commercial vehicles registered growth across all segments, and exports were also up at 35 per cent," M&M President (Automotive Division) Veejay Nakra said. Demand across products continues to be robust with strong booking numbers and pipeline, he added. "There were a number of supply chain ...
Mahindra & Mahindra on Thursday said it has increased prices of its entire model range by 2.5 per cent with immediate effect. This will result in an increase of Rs 10,000 to Rs 63,000 on the ex-showroom prices across the range, depending upon the model and the variant, the home-grown auto major said in a statement. The price revision is the result of a continuous increase in prices of key commodities such as steel, aluminium, palladium, etc, it added. "The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision," M&M noted. The company, which sells models like Thar and XUV700, is working with its sales and dealer network to communicate the new prices to the customers appropriately, it added. Earlier this month, the country's largest carmaker Maruti Suzuki India (MSI) has also announced an increase in prices of its entire model
Mahindra & Mahindra (M&M) on Friday said its total sales increased by 35 per cent to 54,643 units in March as compared with the year-ago period. The Mumbai-based auto major had dispatched 40,403 units in March 2021. The company sold 27,603 passenger vehicles last month in the domestic market as compared with 16,700 units in March 2021. It sold 23,880 commercial vehicles in the domestic market last month as against 21,577 units in the year-ago period. "We continued our growth trajectory in March 2022 with overall sales of 54,643 vehicles, a growth of 35 per cent. Demand continues to be strong, even as we remain watchful of the global supply chain and take appropriate action, as required," M&M CEO (Automotive Division) Veejay Nakra said in a statement. The company's exports last month stood at 3,160 units, up by 49 per cent from 2,126 units in March 2021.
Mahindra & Mahindra Ltd on Wednesday said it will increase its stake in Carnot Technologies Pvt Ltd to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies, which provides products and services related to internet connected devices for monitoring performance of vehicles and equipment, the company said in a regulatory filing. The company will make a primary infusion of approximately Rs 2.5 crore for subscription of 1,613 Series C CCCPS (cumulative compulsorily convertible preference shares) of Carnot of Rs 100 each at a premium of Rs 15,391.65 per CCCPS. Further, it will have a secondary purchase for approximately Rs 11.5 crore of 7,423 equity shares of Rs 10 each at a premium of Rs 15,481.65 per equity share, the filing added. On the reasons for the acquisition, M&M said, "Carnot is expected to support the company's strategy by developing information technology solutions for its ...
Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 89 per cent to 54,455 units in February. The company's total sales stood at 28,777 units in February 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 80 per cent to 27,663 units last month as against 15,391 units in February last year, the auto major said in a statement. Commercial vehicle sales increased to 23,978 units last month as compared with 11,559 units in February 2021. The company said its exports last month stood at 2,814 units as against 1,827 units in the same month last year. "All segments showed robust growth including SUVs at 79 per cent, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. "We continue to closely monitor the semiconductor-related parts supply and take corrective action as appropriate," M&M Automotive Division CEO Veejay Nakra noted.