Page 3 - Mahindra & Mahindra

Mahindra & Mahindra plans to launch 16 EV models by 2027

Homegrown auto major Mahindra & Mahindra on Tuesday said it plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories to strengthen its leadership position in India's electric mobility segment. The company, which has set a cumulative revenue growth target of 15-20 per cent by 2025, is keeping its options open to either bring in private equity investors or carve out its EV business into a separate entity to drive its growth. M&M, which has already announced plans to invest Rs 3,000 crore in EVs, is also considering a new brand name for the electric SUVs that it will launch by 2027. "In SUV, we are looking at 13 new launches by 2027 of which eight will be electric. We think by 2027 we'll be ready for at least 20 per cent of the total UV (utility vehicles) volumes coming from electric vehicles," M&M Executive Director Rajesh Jejurikar told reporters in a virtual earnings conference. Four of the new electric SUVs are expected between

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M&M sees chip crunch easing in 2022, eyes options for EV business

The automaker also said with better availability of semiconductors, it hopes to maintain volume growth momentum from the third quarter onwards

M&M Q2 standalone net surges over 8-fold to Rs 1,432 cr; revenue rises 15%

Homegrown auto major Mahindra & Mahindra (M&M) on Tuesday reported an over eight-fold increase in its standalone profit after tax (PAT) at Rs 1,432 crore for the second quarter ended September 30, 2021, riding on the back of robust sales. The Mumbai-based company had posted a standalone PAT of Rs 162 crore in the July-September period of previous fiscal. Revenue for the second quarter rose by 15 per cent to Rs 13,305 crore as against Rs 11,590 crore in the year-ago period, M&M said in a regulatory filing. The company said it sold 99,334 vehicles during the period under review, up 9 per cent from 91,536 units in the second quarter of last fiscal. M&M tractor sales however declined by 5 per cent to 88,920 units in the second quarter as against 93,246 units in the year-ago period. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,929 crore as compared with Rs 615 crore in the Q2 of 2020-21. Revenue rose to Rs 21,470 crore in the second quarter as ...

Stocks to Watch: RIL, Aurobindo, BHEL, M&M, Jet Airways, IDFC, PowerGrid

FII fund flows, corporate earnings and ongoing IPOs likely to be in focus today

Mahindra & Mahindra's XUV 700: For those who want city comfort

XUV 700 has been getting M&M more attention since its erstwhile bestseller of yesteryear, the Scorpio

Mahindra & Mahindra reports 5% decline in wholesales in October

Mahindra & Mahindra Ltd on Monday reported a 5 per cent year-on-year decline in total wholesales at 41,908 units in October. The company had dispatched a total of 44,359 units in October 2020. Last month, the company's passenger vehicle sales in the domestic market stood at 20,130 units, up 8 per cent from 18,622 units in the year-ago period. Domestic commercial vehicle sales fell to 18,604 units last month from 23,716 units in October 2020. Exports rose to 3,174 units last month, up 57 per cent from 2,021 units in October 2020. Demand for vehicles across our product portfolio remains robust. We have received an unprecedented response for XUV700 and as per our commitment, we have commenced deliveries of the petrol variant to customers," Mahindra & Mahindra CEO Automotive Division Veejay Nakra said in a statement. The supply chain issues around semiconductor related parts continues to be dynamic as the company focuses on managing the situation in the short term, he added.

Mahindra XUV700 records 65,000 bookings in two weeks of the process

Mahindra & Mahindra (M&M) on Wednesday said the deliveries of its recently launched model XUV700 would begin from this month-end. The deliveries of petrol variants will start from October 30 while that of diesel trims from the last week of November. The company said it has garnered 65,000 bookings of XUV 700 in two weeks of commencing the process. The company had opened bookings of the model on October 7. M&M noted that it has partnered with one of the top-three global consulting companies to devise and implement an algorithm-based process for deliveries. "The objective is to streamline the delivery process for customers, based on a combination of parameters which include, quantum of bookings at city and dealer level, ratio of online and bookings at dealer counters and variant-level production feasibility based on supply chain constraints," the automaker said in a statement. The delivery timelines will be communicated to customers by their respective dealerships starting ..

Navratri sales: Chip shortage dents PV retails, 2-wheelers see weak demand

High acquisition cost dissuades motorcycle and scooter buyers this festive season, while carmakers have been unable to cater to the demand owing to chip shortage

Mahindra XUV 700 gets 25,000 bookings in 57 minutes, equaling 6-mth output

Fastest for any four-wheeler model, claims M&M; bookings to restart at 10am on Friday

Mahindra & Mahindra adds two new variants to premium SUV XUV700

Mahindra & Mahindra on Tuesday announced the addition of two new variants to its premium sports utility vehicle, XUV700, in both manual and automatic transmission with diesel engine. The seven-seater two new variants AX7 Luxury MT and AX7 Luxury AT+AWD ( All-Wheel Drive) - are priced at Rs 19.99 lakh and Rs 22.89 lakh, respectively, M&M Ltd said in a release. It also said these prices will be applicable for the first 25,000 bookings, which are slated to commence from October 7. The company is offering XUV700 in two series - MX and AdrenoX (AX). The AX7 variant will be available with an optional luxury pack. In addition to the standard AX7 features, the luxury pack will include features like immersive 3D sound, electrically deployed smart door handles, 360o surround view, blind view monitoring, electronic park brake, driver knee airbag, passive keyless entry and wireless charging, among others, it said. Mahindra has also launched an industry-first 'add to cart' functionality ..

M&M chief Anish Shah supports govt incentives to promote sustainability

Mahindra & Mahindra Ltd Managing Director and CEO Anish Shah on Thursday supported incentives provided to companies by the government for promoting ESG (environmental, social and governance) programmes. Speaking at the annual general meeting of the Indo Canadian Business Chamber, Shah also said climate change should not be seen as a potential disaster but "think of it as an opportunity". "The biggest factor in these programs (ESG) is new technologies because the new technologies are resulting in quantum changes in the carbon footprint," he said when asked if there should be some sort of incentive by the government to promote or give a push to ECG programmes. Citing the examples of electric vehicles (EVs) and solar energy, Shah said, "These are technologies that are creating quantum changes. So, that's why incentives are essential. At the start, any of these technologies are not going to be economically competitive". On solar energy, he said 10 years ago the prices in India were ...

Mahindra considering funding options for EV supercar unit, says report

BENGALURU (Reuters) - Mahindra & Mahindra Ltd is considering options to raise funds for its unit Automobili Pininfarina, as the Indian automaker looks to start production of its $2.2 million electric hypercar, Bloomberg News reported.

Tractor sales to rebound in the coming months after the fall in August

Expected to touch record high in FY22 but growth to moderate

Pick up in economic activities boosts freight rates, CV sales in August

For the first time since Covid outbreak, revenue of the operators is outpacing income and prompting them not only to replace older trucks but also expand fleet

After Maruti, Mahindra warns of 20-25% production loss due to chip shortage

Most other auto firms in India including Tata Motors, Hyundai Motors, Kia Motors, Nissan, Renault and Honda Cars have either already curbed production or will do so soon

Why mass passenger car makers are going slow on electric vehicles

In the absence of a specific policy push and incentives, launching models at a price point that is within the bounds of an average car buyer is still some distance away

M&M to halt production for 7 days due to chip shortage, sees 25% output cut

The announcement by Mahindra comes barely a few days after a similar move by market leader Maruti Suzuki India, which expects production to be lower by 40% in the current month

M&M shares slip 2% as company stares at production cut due to chip shortage

Shares of Mahindra & Mahindra on Thursday slipped over 2 per cent after the company said its production will be cut by up to 25 per cent due to semiconductor shortage. The stock declined 2.29 per cent to close at Rs 752.50 on BSE. During the day, it dipped 2.60 per cent to Rs 750.10. It was the biggest drag among the BSE 30-share frontline companies list. At NSE, it went lower by 2.26 per cent to close at Rs 752.45. In a regulatory filing, the company said its automotive division continues to face a supply shortage of semiconductors, which further accentuated due to COVID-19 lockdowns in some parts of the world. "Consequently, the company will be observing 'No Production Days' of around 7 days in its automotive division plants in the month of September 2021," it added. The move is estimated to result in a "reduction in production volumes of the automotive division in September 2021, by 20-25 per cent", it said. In August, the company sold 15,973 units of passenger vehicles in th

Chip shortage, rising input costs: Auto stocks may remain underperformers

To counter the rise in input costs, Maruti plans to hike prices across-the-board from September, making it the fourth such increase this year