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Page 40 - Mahindra & Mahindra

Mahindra pulls the plug on electric car sales in UK

LONDON/NEW DELHI (Reuters) - Mahindra & Mahindra has stopped selling its electric car in the United Kingdom due to meagre sales and is winding up operations there, according to a document seen by Reuters, in a setback for the Indian automaker's global ambitions.

Updated On : 03 May 2017 | 4:14 PM IST

M&M sales decline 6% to 39,357 units in April

Auto major Mahindra & Mahindra today reported a 6 per cent decline in total sales at 39,357 units in April. The company had sold 41,863 units in the same month last year, the company said in a statement. In the domestic market, sales were down 4 per cent at 37,829 units last month compared to 39,357 units in April 2016. Exports were down 39 per cent at 1,528 units in April against 2,506 units in the same month last year. Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were down 15 per cent at 19,325 units compared to 22,655 units in the same month last year. Commercial vehicle sales were up 16 per cent at 15,066 units in April against 12,947 units in the year-ago period, M&M said. M&M President Automotive Sector Rajan Wadhera said the company expects that the new financial year will bring in positive sentiments for the automotive industry with the key demand drivers in place. "Factors such as the ongoing infrastructure development ...

Updated On : 02 May 2017 | 4:35 PM IST

Mahindra Electric sees 3-fold jump in e-vehicle sales, partners Zoomcar

This year Mahindra's focus would be to create mobility solutions

Updated On : 10 Apr 2017 | 6:43 PM IST

M&M: Tractor show, new launches could lead to rerating

The Mahindra & Mahindra (M&M) stock could see upsides going ahead given the outlook for its farm equipment business, new utility vehicle launches as well as valuations which are at the bottom of the list of large cap auto makers. Further, the March sales numbers, too, were better-than-expected due to higher tractor sales (which are more profitable) and traction in its commercial vehicles, which were up by 31-32 per cent year-on-year. The six per cent fall in utility vehicle (UV) sales was expected given the lack of new launches. What helped cushion the fall was the disposal of BS-III inventory. Across product categories, M&M has indicated that it was able to sell half of the inventory valued at Rs 2,000 crore at discounts of up to 15 per cent and is still left with about 18,000 units. Given that not all of this will either be exported or be converted to BS-IV, the company would have to take a short-term hit.Analysts are, however, bullish on M&M's prospects given ...

Updated On : 05 Apr 2017 | 11:41 PM IST

Note ban makes Mahindra sales veer off course

The overall PV industry has also seen some softening in the growth after demonetisation

Updated On : 05 Mar 2017 | 11:59 PM IST

Taxi aggregators, GST, self-driving cars to impact industry: Goenka

Rise of taxi aggregators, tougher emission regulations, GST roll out and autonomous driving will majorly impact Indian auto industry going ahead, according to Mahindra & Mahindra (M&M) Managing Director Pawan Goenka. The competitive pressure in the Indian market will also make companies forge alliances as witnessed globally, he said but neither denied nor confirmed speculations on the link-up between M&M and Ford. Amid the changing scenario, he said M&M is focussing on sustainable mobility, seeking to position itself as a catalyst to popularise electric vehicles in India even as it works to increase its volume, market share, revenue and profit. "The automotive industry is changing very rapidly in India and there are three-four factors, which are going to have a major impact on the industry in India and globally in the next four to five years," Goenka told PTI. The factors are ascent of taxi aggregators such as Ola and Uber, tougher regulations on emissions and ...

Updated On : 05 Mar 2017 | 2:37 PM IST

Mahindra & Mahindra sales decline 2.92% to 42,714 units in February

Auto major Mahindra & Mahindra today reported 2.92 per cent decline in total sales at 42,714 units in February. The company had sold 44,002 units in the same month last year, M&M statement said. In the domestic market, sales were down 2.26 per cent at 40,414 units last month compared to 41,348 units in February 2016, it added. Exports were down 13.33 per cent at 2,300 units in February against 2,654 units in the same month last year. Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were down 13.12 per cent at 20,605 units compared to 23,718 units in the same month last year. Commercial vehicle sales were up 18.17 per cent at 16,383 units in February against 13,864 units in the year-ago period, M&M said. Commenting on the sales performance, M&M Chief Executive (auto division) Pravin Shah said: "The auto industry is seeing some positive trends emerging over the last two months. With rural sentiments improving, we believe there ...

Updated On : 01 Mar 2017 | 6:28 PM IST