Hybrids have helped Maruti acquire leadership in SUVs, a segment that was never its forte. Toyota has also risen with the hybrid tide to clock its highest-ever annual sales in 2023.
M&M's proposed entry into Pakistan would depend on the policy of the local government.
According to sources close to the development, M&M is preparing to sell its 14.04 per cent stake in Swaraj Mazda, it inherited after the acquisition of Punjab Tractors Ltd. While details are being worked out, the sources said, the stake sale could be priced at around Rs 292 per share.
Mahindra & Mahindra on Wednesday announced a 125 million Euro joint venture with French auto major Renault which will see the launch of mid-size 'Logan' in India by the first half of 2007.
Spiralling car loan rates continue to dent the passenger car market, as Tata Motors, Hyundai and Honda Motors reported slower sales in July over that in the corresponding month last year.
Leading carmakers Maruti Suzuki and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India, Honda Cars and MG Motor also saw a fall in dispatches last month as compared with October 2020. However, companies like Tata Motors, Mahindra, Nissan and Skoda managed to post positive numbers last month despite the supply chain challenges.
Mahindra & Mahindra has decided to curtail its capital expenditure of Rs 5,000 crore (Rs 50 billion) in view of the ongoing slump in demand for cars and sports utility vehicles in the domestic market.
Utility vehicles manufacturer Mahindra & Mahindra will replace Hero Honda in the country's benchmark index Sensex from July 9.
Buoyed by staggering sales of Tata's Ace, the one-tonne mini-truck launched mid-2005, Mahindra & Mahindra, Ashok Leyland Ltd, Bajaj Auto Ltd, Piaggio and Hyundai
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
Mahindra & Mahindra (M&M), the country's largest tractor company, has acquired the controlling stake in Punjab Tractors Ltd (PTL), the fourth largest tractor firm, outbidding Hinduja group firm Ashok Leyland.
Mahindra & Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably. The margins of the automobile business improved 170 basis points (bps) year-on-year (Y-o-Y) to 8.8 per cent, while FES (Farm Equipment Sector) margins improved to 15.8 per cent (up 60 bps Y-o-Y), despite a decline in volumes due to cost optimisation and lower raw material costs.
M&M spearheaded two projects for it bio-diesel programme, one in conjunction with the Indian Institute of Technology, Kanpur, and the other with Indian Oil Corporation's R&D Centre and Lubrizol.
M&M is keen to increase the number of factories in the Africa region and plans are afoot to have one each in Sudan and Kenya.
Besieged by rising steel prices, the domestic passenger car manufacturers are gearing up to raise prices again. Barely a month ago, Maruti Suzuki, Hyundai Motors India, Mahindra & Mahindra, Tata Motors and Honda Siel had effected price increases of Rs 6,000 to Rs 30,000 across models.
Mahindra & Mahindra on Friday said it will supply multi-utility vehicles Bolero and MM 550 XD to the Afghanistan government.
Automobiles major Mahindra & Mahindra is gearing up to launch a mild-hybrid technology version of its passenger vehicle Scorpio in the near future.
Maruti Udyog Ltd has been rated the 'most trusted' passenger car company of the country, according to a survey by global research firm TNS.
Mahindra & Mahindra group on Wednesday said it planned to invest Rs 2,000 crore (Rs 20 billion) into its automotive business. The company announced a standalone net profit of Rs 221.10 crore (Rs 2.21 billion) for the fourth quarter ended March 31, a 13.37 per cent decline over the corresponding period last year.
Automaker Mahindra & Mahindra Ltd on Thursday said it is in talks with the promoters of Germany-based Schoeneweiss & Co GmbH to acquire a majority stake
In a recent note, the global brokerage firm said India now commands a weight of 19 per cent in the above-mentioned portfolio as compared to 18.2 per cent in September 2023. India, it said, is a large liquid market and remains a counter-weight to North Asia if a slowdown in the West occurs and China's recovery disappoints.
After its pullout from the tripartite joint venture with Renault and Nissan to set up a manufacturing plant in Chennai, homegrown auto major Mahindra & Mahindra on Monday said it will invest an additional Rs 1,500 crore (Rs 15 billion) in its Chakan unit, near Pune in Maharashtra.The company has signed an MoU with Maharashtra government to invest an additional Rs 1,500 crore to the already earmarked Rs 2,500 crore (Rs 25 billion) in the Chakan manufacturing plant.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
Mahindra & Mahindra is planning to invest Rs 1,000 crore on capacity expansion in the next three years, and was also planning to set up assembly units in Russia and Malaysia, according to Pawan Goenka, president (automotive sector) of M&M.
Months after Mahindra & Mahindra (M&M) exited a joint venture with Renault and Nissan Motor, the French and Japanese auto firms have got their car project back on the road, signing an MoU today with the Tamil Nadu government for a greenfield facility near Chennai.
Last month, M&M's exclusive US distributor, Global Vehicles, had filed a lawsuit against the Indian firm before an Atlanta District Court, alleging an inordinate delay in the launch of the pick-up truck. GV had claimed to have made an overall investment of $103.5 million (about Rs 480 crore) along with franchisees to sell M&M's pick-up truck based on Scorpio platform.
Indian investments in the West Midlands, UK, have doubled in the last 2 years, thereby strengthening relations between India and UK.
Market leader Maruti registers a growth of 19% in 2007.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
In a little over a year, Mahindra & Mahindra's (M&M) all-Indian utility vehicle, Scorpio, will enter the quality-conscious US market, which is also the largest in the world with 15 million vehicles in annual sales. The company already has firm orders for 45,000 units of Scorpio for the first year, which is more than the 40,000 it sold in India in the last financial year.
Mahindra British Telecom, a telecom-focussed software joint venture between Indian auto group Mahindra & Mahindra and British Telecom, plans to raise its staff strength by 50-65 per cent this year, a spokesman said.
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
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