Mahindra had bought Renault's 49 per cent stake in the troubled Mahindra Renault Private Ltd, while gaining limited autonomy to the Logan sedan, in an effort to turn around the loss-making company.
The Scorpio-based pick-ups, engineered by M&M specifically for the US market, were set to reach North American shores three years ago, but launch dates were postponed more than thrice thereafter before the company's marketing and distribution partner Global Vehicles Inc filed a lawsuit against it for the delay.
"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.
M&M for sell-off of PSIDC stake in Punjab Tractor
Mahindra & Mahindra Ltd, India's largest sports utility vehicle and tractor maker, is bullish on its latest acquisition of REVA Electric Car Company.
Maruti Suzuki India and Tata Motors reported decline in sales during June this year.
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 revenue from automotive sales jumped 58 per cent in the quarter, driven by surging demand for SUVs.
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.
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.
While directly holding city-based utility vehicle and tractor major Mahindra & Mahindra responsible for a potential job loss to the tune of 8,300 in the United States, its former partner Global Vehicles has called for stricter actions.
Just over a year after breaking up its joint venture with Renault, Mahindra & Mahindra on Monday said it has renamed the 'Logan' sedan as 'Verito', thus completely dropping the French automaker's badge from the entry level sedan.
Mahindra & Mahindra, the utility vehicle and tractor market leader, says it will leave no stone unturned in the fiercely competitive two-wheeler market. After last week's launch of two indigenously built motorcycles, the company wants to position at least one new product in every segment of the 9.37-million-units-a-year market.
Tata Group firm Indian Hotels and auto major Mahindra & Mahindra are the only Indian brands to figure in the list of 27 top 'Great Brands of Tomorrow' compiled by Credit Suisse.
By wonderful coincidence, the first UID card handed out today by the Prime Minister and Mrs Gandhi was backed by Mahindra Satyam technology, says Anand Mahindra.
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.
In the month of August Indian car industry posted sales of 160,794 units and the industry grew 33 per cent.
This stunning SUV is likely to be prices at Rs 15 lakh.
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.
Automaker Mahindra & Mahindra (M&M) has offered to rectify a problem in the gearbox of some of its 110cc Stallio motorcycles. The Stallio marked the entry of the maker of utility vehicles and tractors into the highly competitive motorcycle market.
Automaker Mahindra & Mahindra (M&M) has offered to rectify a problem in the gearbox of some of its 110cc Stallio motorcycles.
Mahindra & Mahindra has raised the prices of Scorpio by Rs 5,000 to 6,000 due to the increase in input costs.
A group spokesperson declined to comment on the size of the forthcoming deal. The market capitalisation of the company is $400 million (Rs 1,840 crore).
India, one of the world's fastest growing auto markets, will see the launch of over ten vehicles, including small cars during the 10th Auto Expo.
A tribunal in London last month confirmed that it had an exclusive jurisdiction to resolve all disputes related to the relationship between M&M and Global Vehicles. It directed the US distributor to end all current litigation, said M&M.
The opportunity is huge. With Rs 8,000 crore worth of defence contracts signed in the last two years under the offset policy mandated by the government, Indian component suppliers are gearing up to cash in on balance contracts worth Rs 1,30,000 crore, which would be up for grabs in the next few years.
Mahindra & Mahindra Ltd, the country's largest utility vehicle maker, will roll out a sub-four metre compact model of Verito, the rechristened Mahindra Logan, which is expected to attract only 10 per cent excise duty instead of the earlier 22 per cent. Also, it will have a lower price tag.
Market leader Maruti Suzuki sold 51,274 units, down 49.61 per cent from the same month last year. Hyundai Motor sold 21,320 units, a decline of 49.25 per cent and Mahindra & Mahindra sold 8,075 units, down 54.54 per cent.
Company has received orders for 20-25 GA8s from China and hopes to deliver at least two planes before the year-end.
Competition in the two-wheeler market is fiercer than ever before and Mahindra's only motorcycle, Stallio, is bearing the brunt of it.
Keeping with its global ambition, homegrown farm equipment-to-software group Mahindra & Mahindra said it will embark on a new brand positioning to project a singular voice for various entities under its umbrella.The group has decided to use 'Rise' as the new brand position.
The Indian passenger car market is booming like never before. With almost every car major already present in the Indian car market with various models, India is one of the hottest automobile markets in the world.
Mahindra & Mahindra (M&M) on Friday launched the all-new version of its sports utility vehicle Thar, priced between Rs 9.8 lakh and Rs 13.75 lakh (ex-showroom). The company has introduced the model in two trims, AX and LX, with both petrol and diesel powertrain options.
While it is difficult to attribute any one single reason to this, low cost, less depreciation, easier loans, and ready availability of good models are some of the reasons behind this boom.
Mumbai-based utility vehicle and tractor maker Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company.
"We have hiked prices last week by 1.5 to 2 per cent on all our vehicles due to higher commodity costs," Mahindra and Mahindra President (Automotive and Farm Sectors) Pawan Goenka said.
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."
Auto makers, who enjoyed a record-breaking sales run over recent months, are now bracing themselves for upheaval, led primarily by changing government policies and rising inflationary pressures.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
The news comes just three days after M&M received certification from the US Environmental Protection Agency allowing it to sell pick-up trucks in that country.
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