When Anand Mahindra becomes non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to have a complete oversight of and responsibility for the Mahindra group businesses.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Passenger vehicle wholesales in India increased 4 per cent year-on-year in May to 3,47,492 units, as compared to the same month last year, industry body SIAM said on Tuesday. Overall passenger vehicle (PV) dispatches from companies to dealers stood at 334,537 units in May 2023.
The Tamil Nadu government on Tuesday cleared the Rs 13,180 crore project by Yuzhan Technology, part of Taiwan's Foxconn Group, at Kancheepuram. The unit is reportedly expected to assemble smartphone display modules, which will be one of the first such units to cater to Apple's growing presence in the country. The unit is expected to generate at least 14,000 jobs. Of the 14 existing manufacturing units in the Apple supply chain, seven are based in Tamil Nadu.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
Bajaj Auto has become the top player in India's electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three-wheelers. In September, the company - according to the latest Vahan data - recorded sales of 17,570 electric two-wheelers, 4,575 three-wheelers, and 3,000 Yulu low-speed electric bikes (based on company sales numbers), which do not require a licence and are not registered on Vahan.
Mahindra is desperate for a best-seller in the compact SUV space, on which it missed the bus
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
'In terms of incentives, if you think about it, hybrids are a 20-year-old technology.'
The auto major is eyeing 20 per cent of the compact SUV market with the petrol and diesel variants of the XUV300, reports Shally Seth Mohile.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Friday reported robust sales for February as demand for sports utility vehicles continued to remain strong. Mahindra & Mahindra, Toyota Kirloskar Motor and Honda Cars also witnessed higher vehicle dispatches to dealers last month. February turned out to be the third-best month for sales for the industry ever.
South Korean carmaker Kia was on Tuesday declared the top mass-market performer in the overall customer experience index (CEI), an annual survey done by the Federation of Automobile Dealers Associations (Fada) to assess and quantify customer experience across 97 parameters related to sales, product, and after-sales quality. Fada conducted this survey in collaboration with consulting firm Frost & Sullivan, with a sample size of 8,685 respondents.
The only reason why the Marazzo interests you is because your budget doesn't afford you the better MPV, the Toyota Innova and that's where Mahindra has played the masterstroke, the price, it fits right between the Ertiga and Innova and if you want an MPV in this price bracket, the Marazzo is just unbeatable.
For Mahindra & Mahindra (M&M), which has just started executing a comeback strategy for wresting back ground it lost to rivals, this could not have come at a worse time. The maker of the Bolero Neo and the Thar models on Thursday said it would have to halt production at its automotive plant for a week due to the worsening supply situation of semiconductors.
The pre-owned vehicles arm of the Mahindra Group plans to add 30 outlets in a few days taking the total number to 1,000.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
Passenger vehicle wholesales in India witnessed a marginal growth in May on account of high base effect and muted demand due to general elections. The overall passenger vehicle dispatches from companies to dealers stood at 350,257 lakh units last month as compared to 335,436 in the same month a year ago, registering a growth of 4 per cent.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
Passenger vehicle sales are expected to experience muted growth in the current financial year.
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).
'Two would be premium products and three would be mainstream products.'
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
Mahindra and Mahindra will set up a medium and heavy commercial vehicle plant in Maharashtra at a cost of Rs 2,500 crore
The company has put in place a new team to scout for opportunities in new verticals and geographies in order to double revenue in two years.
Mahindra Holidays and Resorts India Ltd, part of the Mahindra and Mahindra Group, on Tuesday said it was in the process of identifying several locations in neighbouring countries to set up resorts.
Mahindra & Mahindra on Thursday said it has tied up with a unit of Adani Total Gas to establish electric vehicle charging infrastructure across the country. The auto major and Adani Total Energies E-Mobility Ltd (ATEL) have inked a memorandum of understanding (MoU) in this regard. The MoU sets a roadmap for the creation of an expansive EV charging infrastructure across the country, it added.
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.
This, my friends, is the ultimate off-road champion, gloats Rajesh Karkera/Rediff.com.
Only 700 units of this edition will be made by Mahindra
Maruti Suzuki India and Hyundai reported single-digit sales growth in July with the sports utility segment continuing to drive overall demand in the market. Mahindra & Mahindra witnessed a 29 per cent increase in passenger vehicle dispatches while Tata Motors saw a marginal increase in the wholesales last month. Maruti Suzuki on Tuesday said its total domestic passenger vehicle sales stood at 152,126 units last month as compared to 142,850 units in the year-ago month, a growth of 6 per cent.
Mahindra & Mahindra on Friday launched new models of its sport-utility vehicle Scorpio and cut its price ranging from Rs 34,000-70,000.
The Mumbai power cuts come amid concerns about wider blackouts across the country due to a shortage of coal.
Nakamura, who started off as the favourite in the blitz section, is in sixth spot on 13.5 points, ahead of tour leader and compatriot Fabiano Caruana who has 13 points.
Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales in October rose to 391,472 units, up 16 per cent from 336,679 units in the same month last year. Last month witnessed the highest-ever dispatches of passenger vehicles in the domestic market by Maruti Suzuki India and Mahindra & Mahindra.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
Auto major Mahindra has ambitious plans for its electric cars project, that include ramping up its output to 60,000 units a year, high-end electric powertrains, and 380 to 650 volt battery systems.
While declining to disclose the percentage of wage hikes given to offshore and onsite staff, the spokesperson said that the hike was effective from October 1, 2012.
Ten things you must know about the latest innovation from Mahindra
