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An expected drop in sales may prompt Mahindra & Mahindra to cut scheduled capacity expansion plans, if the government goes ahead with the imposition of additional tax on diesel vehicles, according to the country's biggest maker of sports utility vehicles.
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
Pawan Goenka did not offer any details on the new models or launch dates.
M&M recently roared past Tata Motors in auto sales for the first time.
Mahindra & Mahindra, Reliance hold on to some gains
Net sales increased 29 percent to Rs 10,643 cr.
Touted as its first global product, the diesel SUV was recently introduced in the South African market.
The company, in a BSE filing, said "the matter was resolved amicably through mutual dialogues and the matter has also been withdrawn by them from the conciliation officer, Mohali."
In less than two weeks, the 11th Auto Expo will start in New Delhi.
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
Availability of jobs at India's auto companies has shrunk significantly over the last two years, as the industry goes through one of its worst slowdowns. More than 60 per cent of the total workforce fell by 24 per cent in 2019-20, against 2017-18.
It is currently working out the details of the quantum of price increase, which will vary depending on the model.
Terming the calls for imposing additional tax on diesel vehicles as "retrograde", homegrown auto major Mahindra & Mahindra today said such a move will only further impede growth of the industry which has had a difficult year in 2011.
The fire broke out in the Scorpio unit of the company, early morning, which was brought under control with the help of 25 fire tenders of the Nashik Municipal Corporation as well as the company's own firefighting unit.
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
The revenue from automotive sales jumped 58 per cent in the quarter, driven by surging demand for SUVs.
The Mumbai-based entity has yet to apply for a re-certification for federal emissions with the Environmental Protection Agency of the American government.
Described as the 'most affordable' 4 wheeler Cab, the product has been developed to "change the face of intra city stage and contract carriage travel in India", Jacob Vargehse, general manager, sales strategy planning and commercial, automotive division, told reporters in Kochi.
Finance Minister Pranab Mukherjee on Friday announced raising of excise duty to 12 per cent from 10 per cent at present.
Mahindra & Mahindra has decided to dismandle its recently acquired Boeing plant in Melbourne, Australia, which makes machinery for aircraft, and shift it to Bangalore.
The New Xylo comes with an all new front and rear that appears distinct in the MUV crowd along with some more innovative and class leading features inside the cabin.
Mahindra & Mahindra is looking to increase production of its latest sports utility vehicle XUV500 to about 3,000 units per month in the next 2-3 months because of strong demand.
Consumer sentiments have been dampened due to several factors like tight liquidity, high insurance, and high costs
The car will be available in both petrol and diesel options and will take on Maruti Suzuki's DZire and Toyota Kirloskar Motor's Etios.
Mahindra & Mahindra, the tractors to information technology conglomerate, will launch its first indigenously built aircraft before March, at a price at least 20 per cent cheaper than an equivalent aircraft of Cessna, the market leader.
Is the XUV700 just a facelifted XUV500 or is it a completely new breed in the vast range of SUVs available today? Rajesh Karkera takes the latest offering from the Mahindra stable for a spin to find out.
More than a year after Mahindra & Mahindra bought stake in Reva Electric Car Company, the SUV-maker is gearing up to launch its first compact car -- it promises nine times the mileage generated by the country's most fuel-efficient petrol-powered car.
The French carmaker wants to erase the Logan memory by opting for a premium play before going down the value chain.
Mahindra & Mahindra is one of India's leading auto makers.
The still-unnamed sports utility vehicle (SUV), slated for launch this June, will be in line with its heritage, says Force Motors managing director Prasan Firodia.
The auto component sector grew at 5-6 per cent last year against a 13 per cent growth in 2012.
The Mahindra Group is an automotive, farm equipment, financial services, trade and logistics and information technology conglomerate.
"The scooter industry is growing at a very fast rate and we see a good demand growth", M&M Vice President (sales and customer care) Dharmendra Mishra said.
Maruti Suzuki India and Tata Motors reported decline in sales during June this year.
Mahindra & Mahindra today launched a limited edition of its Verito sedan called Verito Executive, priced in the range of Rs 5.95-7.09 lakh (ex-showroom Delhi). The new variant, targeted at corporate professionals or businessmen, will be available in two colours--pearl white and walnut brown, the company said in a statement.
The company, which rents cars by the hour, day, week and month, has Mahindra E2O Plus and Tata E Tigor available on the platform for which it charges a subscription fee of Rs 15,000-20,000 per month.
According to the Society of Indian Automobile Manufacturers, total sales of vehicles across categories registered a growth of 13.40 per cent to 13,70,786 units in May, as against 12,08,820 units in the same month last year.
This stunning SUV is likely to be prices at Rs 15 lakh.
A year after French auto major Renault terminated its joint venture with homegrown automobile manufacturer Mahindra & Mahindra (M&M), the company is back to prove its mettle in the world's second fastest growing automobile market with its premium mid-size sedan Fluence.
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