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.
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
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.
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.
Mahindra & Mahindra on Friday said it will supply multi-utility vehicles Bolero and MM 550 XD to the Afghanistan government.
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.
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
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.
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.
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.
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.
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.
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.
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.
Leading utility and light commercial vehicles maker, Mahindra & Mahindra Ltd on Monday said it would acquire 88.41 per cent stake in Mauritius-based Plexion Technologies, a group company of J P Morgan.
Get Ahead reader Janaki D discusses her experiences living with roommates.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Equity investors' wealth jumped by over Rs 10.19 lakh crore in the three-day market rally to Monday. On Monday, the 30-share BSE Sensex soared by 1,041.08 points or 1.90 per cent to settle at 55,925.74. In three days, the bechmark has zoomed 2,176.48 points or 4 per cent. Helped by jump in equities, the market capitalisation of BSE-listed firms went up by Rs 10,19,936.84 crore to Rs 2,58,47,092.40 crore in three days.
Maruti and Hyundai cars will be more expensive from February.
Commissioner of Central Excise (adjudication), Mumbai, has ordered Mahindra & Mahindra Ltd to pay Rs 216.03 crore (Rs 2.16 billion) as differential duty and Rs 88.08 crore (Rs 880 million) as penalty under the Central Excise Act.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances