Page 27 - Mahindra & Mahindra

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

Mahindra recalls around 600 vehicles to fix diesel engine issues

Mahindra & Mahindra (M&M) on Monday said it is recalling around 600 vehicles manufactured at its Nashik plant to inspect and replace faulty diesel engines. The Mumbai-based auto major said it is undertaking proactive inspection and replacement of diesel engines in some of its vehicles manufactured at Nashik factory for suspicion of premature wear of engine parts due to contaminated fuel that was received in the factory on a particular date and was filled in the select batch. The exercise is for a limited batch of less than 600 vehicles manufactured between June 21 and July 2, 2021 and is keeping in line with the company's customer centric approach, M&M said in a regulatory filing. The inspection and subsequent rectification will be carried out free of cost for all customers, who will be individually contacted by the company, it added. The auto major, however, did not elaborate on the models which would fall under the exercise. The company sells various popular models in ...

CEAT to supply tyres for M&M's new seven-seater Bolero Neo

Tyre maker CEAT on Wednesday said it will supply its high performance CZAR HP range of tyres for Mahindra & Mahindra's new seven-seater Bolero Neo sports utility vehicle. The announcement came a day after M&M launched the new SUV built on third generation chassis shared with Scorpio and Thar, with the Mahindra mHawk engine. CEAT Ltd has collaborated with Mahindra, for its newly launched Mahindra Bolero Neo. CEAT will be supplying the CZAR HP range of tyres for the new vehicle, the company said in a release. In the past also, CEAT has also partnered with Mahindra for tyre supplies for its various other vehicle models. Designed to provide better steering control and higher fuel efficiency, the tyre has been optimized to perfectly complement the exceptional performance of Bolero Neo, CEAT Ltd said. "We take pride in our association with Mahindra, which has grown over the years. We have come a long way since 2015, and the Mahindra Bolero Neo is a testimony of our unwavering ...

Second wave of the Covid-19 pandemic throws auto SMEs out of gear

Hope rests on exports and festive season accelerating recovery

Mahindra & Mahindra Ltd reports total tractor sales of 48,222 units in June

Mahindra & Mahindra Ltd on Thursday reported total tractor sales of 48,222 units in June, recovering from the disruptions induced by the second wave of the coronavirus pandemic. The company had sold a total of 36,544 tractors in June 2020, when sales were impacted by the nationwide lockdown imposed to curb the spread of the coronavirus pandemic although easing of restrictions had started by then. It had sold 24,184 units in May 2021, during the peak of the second wave of the pandemic. Domestic sales last month were at 46,875 units. It was at 35,844 units in June 2020, M&M said in a statement. Exports in June stood at 1,347 units. The company had exported 700 units in the same month last year. Commenting on the performance, Mahindra & Mahindra Ltd. President - Farm Equipment Sector Hemant Sikka said, "the sharp fall in COVID-19 cases and resultant easing of related restrictions, arrival of timely monsoon, increase in MSP rates for key kharif crops and continued strong ...

Auto industry chases the monsoon, but analysts are less optimistic

Manufacturers think the impact of Covid-19's ravages on rural India will abate if seasonal rains are good.