Page 27 - Mahindra & Mahindra

Mahindra XUV700 records 65,000 bookings in two weeks of the process

Mahindra & Mahindra (M&M) on Wednesday said the deliveries of its recently launched model XUV700 would begin from this month-end. The deliveries of petrol variants will start from October 30 while that of diesel trims from the last week of November. The company said it has garnered 65,000 bookings of XUV 700 in two weeks of commencing the process. The company had opened bookings of the model on October 7. M&M noted that it has partnered with one of the top-three global consulting companies to devise and implement an algorithm-based process for deliveries. "The objective is to streamline the delivery process for customers, based on a combination of parameters which include, quantum of bookings at city and dealer level, ratio of online and bookings at dealer counters and variant-level production feasibility based on supply chain constraints," the automaker said in a statement. The delivery timelines will be communicated to customers by their respective dealerships starting ..

Navratri sales: Chip shortage dents PV retails, 2-wheelers see weak demand

High acquisition cost dissuades motorcycle and scooter buyers this festive season, while carmakers have been unable to cater to the demand owing to chip shortage

Mahindra XUV 700 gets 25,000 bookings in 57 minutes, equaling 6-mth output

Fastest for any four-wheeler model, claims M&M; bookings to restart at 10am on Friday

Mahindra & Mahindra adds two new variants to premium SUV XUV700

Mahindra & Mahindra on Tuesday announced the addition of two new variants to its premium sports utility vehicle, XUV700, in both manual and automatic transmission with diesel engine. The seven-seater two new variants AX7 Luxury MT and AX7 Luxury AT+AWD ( All-Wheel Drive) - are priced at Rs 19.99 lakh and Rs 22.89 lakh, respectively, M&M Ltd said in a release. It also said these prices will be applicable for the first 25,000 bookings, which are slated to commence from October 7. The company is offering XUV700 in two series - MX and AdrenoX (AX). The AX7 variant will be available with an optional luxury pack. In addition to the standard AX7 features, the luxury pack will include features like immersive 3D sound, electrically deployed smart door handles, 360o surround view, blind view monitoring, electronic park brake, driver knee airbag, passive keyless entry and wireless charging, among others, it said. Mahindra has also launched an industry-first 'add to cart' functionality ..

M&M chief Anish Shah supports govt incentives to promote sustainability

Mahindra & Mahindra Ltd Managing Director and CEO Anish Shah on Thursday supported incentives provided to companies by the government for promoting ESG (environmental, social and governance) programmes. Speaking at the annual general meeting of the Indo Canadian Business Chamber, Shah also said climate change should not be seen as a potential disaster but "think of it as an opportunity". "The biggest factor in these programs (ESG) is new technologies because the new technologies are resulting in quantum changes in the carbon footprint," he said when asked if there should be some sort of incentive by the government to promote or give a push to ECG programmes. Citing the examples of electric vehicles (EVs) and solar energy, Shah said, "These are technologies that are creating quantum changes. So, that's why incentives are essential. At the start, any of these technologies are not going to be economically competitive". On solar energy, he said 10 years ago the prices in India were ...

Mahindra considering funding options for EV supercar unit, says report

BENGALURU (Reuters) - Mahindra & Mahindra Ltd is considering options to raise funds for its unit Automobili Pininfarina, as the Indian automaker looks to start production of its $2.2 million electric hypercar, Bloomberg News reported.

Tractor sales to rebound in the coming months after the fall in August

Expected to touch record high in FY22 but growth to moderate

Pick up in economic activities boosts freight rates, CV sales in August

For the first time since Covid outbreak, revenue of the operators is outpacing income and prompting them not only to replace older trucks but also expand fleet

After Maruti, Mahindra warns of 20-25% production loss due to chip shortage

Most other auto firms in India including Tata Motors, Hyundai Motors, Kia Motors, Nissan, Renault and Honda Cars have either already curbed production or will do so soon

Why mass passenger car makers are going slow on electric vehicles

In the absence of a specific policy push and incentives, launching models at a price point that is within the bounds of an average car buyer is still some distance away

M&M to halt production for 7 days due to chip shortage, sees 25% output cut

The announcement by Mahindra comes barely a few days after a similar move by market leader Maruti Suzuki India, which expects production to be lower by 40% in the current month

M&M shares slip 2% as company stares at production cut due to chip shortage

Shares of Mahindra & Mahindra on Thursday slipped over 2 per cent after the company said its production will be cut by up to 25 per cent due to semiconductor shortage. The stock declined 2.29 per cent to close at Rs 752.50 on BSE. During the day, it dipped 2.60 per cent to Rs 750.10. It was the biggest drag among the BSE 30-share frontline companies list. At NSE, it went lower by 2.26 per cent to close at Rs 752.45. In a regulatory filing, the company said its automotive division continues to face a supply shortage of semiconductors, which further accentuated due to COVID-19 lockdowns in some parts of the world. "Consequently, the company will be observing 'No Production Days' of around 7 days in its automotive division plants in the month of September 2021," it added. The move is estimated to result in a "reduction in production volumes of the automotive division in September 2021, by 20-25 per cent", it said. In August, the company sold 15,973 units of passenger vehicles in th

Chip shortage, rising input costs: Auto stocks may remain underperformers

To counter the rise in input costs, Maruti plans to hike prices across-the-board from September, making it the fourth such increase this year

Mahindra's domestic passenger vehicle sales up 17% in August

Mahindra & Mahindra (M&M) on Wednesday reported a 17 per cent increase in domestic passenger vehicle sales at 15,973 units in August as compared to the same month last year. The company had sold 13,651 units in August 2020, M&M said in a statement. In the commercial vehicles segment, the company sold 11,432 vehicles in the domestic market last month, as against 15,606 units in the same month last year, a drop of 27 per cent. Exports increased to 3,180 units last month as against 1,169 units in the year-ago month. "Demand across our product portfolio continues to remain strong with Thar, XUV 300 and our recently launched Bolero Neo and our Bolero Pik-up range clocking in impressive booking numbers. Growth momentum in exports continued with sales of 3,180 vehicles, registering an increase of 172 per cent," M&M Chief Executive Officer Automotive Division Veejay Nakra said. Supply of semiconductors continues to be a global issue for the auto industry and has been a major ..

Aviation Ministry grants permission to use drones to 10 organisations

The Civil Aviation Ministry on Monday gave conditional permission to 10 organisations, including Mahindra and Mahindra, SAIL and Bayer Crop Science, to use drones for various purposes

Mahindra to have fewer brands, more extensions in its comeback trail

The XUV700, its latest SUV offering that broke cover on Saturday, is the first model that marks the shift in the strategy

Mahindra recalls 29,878 pick up vehicles to replace faulty fluid pipe

Mahindra & Mahindra (M&M) on Tuesday said it is recalling 29,878 units of its pick up vehicles to replace faulty fluid pipe amid suspicion of improper assembly. The company has announced a proactive inspection and replacement of a fluid pipe in some of the pick up vehicles manufactured between January 2020 and February 2021 for suspicion of improper assembly, M&M said in a regulatory filing. The recall is limited to a batch of 29,878 vehicles and is keeping in line with the company's customer-centric approach, it added. "The inspection and subsequent rectification will be carried out free of cost for all customers, who will be individually contacted by the company. In an endeavour to ensure a hassle-free experience for its customers, the company is proactively carrying out this activity," the auto major said. The action is also in compliance with voluntary code on vehicle recall. Last month, the company announced undertaking a proactive inspection and replacement of diesel

Mahindra & Mahindra unveils brand new logo for SUV Portfolio

The new XUV700 will be the first vehicle to wear the Twin Peaks logo, followed by other SUV products in a phased manner

M&M eyes pole position in the 'core SUV' segment in three years

As part of a plan to make a strong comeback in a segment it ruled till recently, M&M plans to launch nine models by 2025-26

Strong tractor and UV sales drive up M&M's Q1 net 23-fold

Earnings, however, aren't strictly comparable due to last year's low base. Businesses had come to a halt in the June quarter of 2020 due to Covid-19-induced national lockdown