Page 13 - Mahindra & Mahindra

Auto, tyre shares on a roll; Nifty Auto, M&M scale new highs; here's why

Auto, tyre stock update: Shares of auto and tyre makers rallied up to 5 per cent in intra-day deals on Tuesday, lifting the Nifty Auto index to a new all-time high on upbeat outlook.

M&M aims to be among top 2 players in compact SUV section in 3 years

Mahindra & Mahindra Ltd on Monday said it wants to be among the top two players in the compact SUV section in the next three years. At the unveiling of its compact SUV here on Monday, M&M Executive Director and CEO for auto and farm director Rajesh Jejurikar also said that the company anticipates growth in the mid-to-high teens in its SUV volumes. Earlier, M&M Ltd unveiled its compact segment SUV, XUV 3XO, at a starting price of Rs 7.49 lakh. In the sub-four-metre compact SUV monocoque, which is a direct relevant segment for the company, out of six lakh, "we are number 5 in the segment and the next three years we want to be number 1 or number 2," he said. Stating that this segment will also grow amid a rapidly growing SUV market, he said, "We are staying with the comment (that) we made in the last result call. In FY 25, we want to grow in the mid-teens." "We have focus on products and waiting to get everything right on 3XO." "That size is of six lakhs. We will have to look

Mahindra XUV 3XO is expected to launch today; check price, design, and more

Mahindra XUV 3XO launch: Mahindra and Mahindra is expected to launch its SUV today. The new model will compete with some of its rivals like the Kia Sonet, Hyundai Venue, Maruti Suzuki Brezza

Musk vs the rest: Who will be Tesla's biggest competitors in India?

Elon Musk is set to visit India and meet PM Modi. With the likelihood of a Tesla plant coming up in India, which are the EV makers they will compete with? Here is a list

Mahindra Aerostructures signs $100 milllion contract with Airbus Atlantic

Mahindra Aerostructures on Monday announced it has signed a multi-year contract worth around USD 100 million with Airbus Atlantic for the manufacturing and delivery of metallic components for the entire Airbus commercial aircraft family, including the A320 family planes. Under the contract, the company will supply close to 2,300 varieties of metallic components to Airbus Atlantic in France from its manufacturing base in India, Mahindra Aerostructures Pvt Ltd (MASPL) said in a statement. The contract adds to existing MASPL programmes to deliver parts directly to Airbus at their facilities in France and Germany, it said. MASPL has been a direct supplier to Airbus Group since 2015, and partners with Airbus on numerous initiatives. Developing the relationship with Mahindra Aerostructures will help the company benefit from their robustness, expertise, and high-end technology capabilities in order to strengthen the company's supply base, said Airbus Atlantic Chief Procurement Officer Jos

Auto players line up array of new EV models in coming years on govt push

The Indian auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility solutions with the unveiling of a new policy. Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models to cater to the demand across segments. Mahindra & Mahindra CEO Automotive Sector Nalinikanth Gollagunta told PTI that starting January 2025, the company will be rolling out five new battery electric vehicles in the coming years. "These electric SUVs will be built on Mahindra's innovative INGLO platform and aim to cater to a variety of consumers through their diverse range. The launch of these SUVs is part of Mahindra's broader strategy to lead in the electric vehicle sector, and we expect 20-30 per cent of our portfolio to be electric by 2027," he noted. Maruti Suzuki India Executive Officer (Corporate Affairs) Rahul Bharti said the ..

M&M, Adani Total Energies join to set up EV charging infra across India

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. Moreover, the partnership will also entail rolling out e-mobility solutions to provide seamless access to the charging network for the customers covering discovery, availability, navigation, and transactions, the Mumbai-based automaker said. With this association, electric vehicle XUV400 customers will now have access to more than 1,100 chargers, it added. "This alliance is a cornerstone in enhancing the EV charging infrastructure, ensuring our customers enjoy seamless access to charging network and digital integration for an unparalleled EV experience," M&M President - Automotive ...

M&M posts 40% growth in SUV sales in Feb, overall production grows by 26%

The company has been increasing its production steadily and as of February 1, it had opened bookings for around 226,000 SUVs

Auto retail sales jump 13%, PV sales scale record high in February

PV sales moved up by 12 per cent to 330,107 units as compared to 293,803 units in February last year

Mahindra & Mahindra wholesales increase 24% to 72,923 units in February

Mahindra & Mahindra on Friday said its total sales increased 24 per cent to 72,923 units in February. The company's total dispatches to its dealers stood at 58,801 units in February 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 40 per cent to 42,401 units last month against 30,358 in February last year, the auto major said in a statement. "In our endeavour to make some of our SUVs available faster to consumers, we launched the Scorpio N Z8S variant and the Thar Earth edition this month," Mahindra & Mahindra President (Automotive Division) Veejay Nakra said. The company's total tractor sales last month stood at 21,672 units, a dip of 16 per cent as compared to 25,791 units in the same month last year.

M&M hits new high on strong Feb auto sales; soars 20% in 1 month

The company reported a healthy 24 per cent YoY growth in total auto sales at 72,923 vehicles for the month of February 2024.

JSW Group, Volkswagen begin talks to set up electric vehicle joint venture

Talks with JSW came within days of the German carmaker announcing it would supply components for EVs and battery cells to Mahindra & Mahindra

Mahindra partners with Volkswagen to get electric components, battery cells

BERLIN (Reuters) -Volkswagen and Mahindra & Mahindra Ltd have signed a supply agreement on the use of key electric components of the German carmaker's open platform for electric vehicles (EVs), the companies said in a statement on Friday.

M&M hits new high, up 12% in 2 days; strong Q3, Volkswagen deal aid buying

M&M and Volkswagen have signed supply agreement on the use of key electric components of the German carmaker's open platform for electric vehicles (EVs).

Strong auto business likely to offset tractor slowdown for M&M stock

The auto business is expected to be the growth driver for the next two years due to a healthy order backlog and new launches

Mahindra & Mahindra rallies 6%, nears record high on solid Q3 performance

The company said the automotive business continues to gain market share with SUV at 21.0% and LCV at 49.6%, and the farm market share has improved 80 bps to 41.8% despite a decline in the industry.

Mahindra & Mahindra's Q3 result: Profits up 60%, miss expectatios

The 'Scorpio' SUV-maker's standalone profit after tax rose 60.6 per cent to Rs 2,454 cr ($295 million) in the three months to Dec. 31, missing analysts' estimate of Rs 2,512 cr, per LSEG data

Mahindra Group appoints Amarjyoti Barua as group chief financial officer

Mahindra Group on Friday announced the appointment of Amarjyoti Barua as its Group Chief Financial Officer with effect from May 17 this year. He will be replacing Manoj Bhatt, who is appointed as Managing Director and CEO of Mahindra Holidays & Resorts India Ltd (MHRIL) succeeding Kavinder Singh, the company said in a statement. The change of guard at MHRIL comes following Singh's resignation, according to Mahindra Group. Appointments of Barua and Bhatt are effective from May 17. Currently, Barua is serving as Executive Vice President for Group Strategy. "Talent Development is a key priority at the Mahindra Group, which has enabled us to attract and retain top talent. In addition to world-class development programs, we have mapped career paths for each leader, which include experience across multiple roles," Anish Shah, Group CEO and Managing Director of M&M, said. The company also said, Vimal Agarwal, CFO of Mahindra Lifespaces Developers Ltd (MLDL), will move as CFO for ...

Auto cos seek continued push to green mobility, infra development in Budget

The government needs to continue with favourable policies to promote green mobility while also focussing on infrastructure development at a robust pace in the upcoming Budget, according to some leading firms in the automobile space. The Union government is all set to present the interim budget on February 1. "We expect capex on infrastructural projects to continue, aiding the automotive sector. The policy push for green mobility should remain a key focus for the government, encouraging faster adoption of electric vehicles," Mercedes-Benz India MD and CEO Santosh Iyer said. The luxury car industry has a significant value contribution to the GDP and the segment aspires for a rationalised duty structure and GST on priority, he added. "Overall, we expect consistency in various policies and no surprises in the upcoming budget," Iyer stated. Luxury vehicles currently attract the top GST slab of 28 per cent with an additional cess of 20 per cent on sedans and 22 per cent on SUVs, taking

Mahindra expects to sustain growth momentum in SCV segment in FY25

Mahindra & Mahindra expects to sustain growth momentum in the small commercial vehicles segment in the next fiscal, as it looks to keep refreshing the range as per customer needs, a senior company official said on Thursday. The company on Thursday introduced the new Supro Profit Truck Excel series, available in both diesel and CNG Duo variants, priced between Rs 6.61 and Rs 6.93 lakh, respectively. The Small Commercial Vehicles (SCVs) are designed to cater to the needs of last-mile connectivity. "We are expecting the industry to grow 5-10 per cent next fiscal and we would like to do better than that," Mahindra Auto Vice President and Head of Sales Baneshwar Banerjee told PTI. He said the company keeps working towards continuous interventions in its product range as per customers' requirements. As part of that, the company plans to introduce air conditioning in its pick-up range in the coming months, Banerjee said. He noted that while the industry has witnessed a 22 per cent dip