Page 5 - Mahindra

Auto majors Maruti Suzuki, Mahindra report best-ever October sales

The shift towards larger vehicles also impacted MSI's mini-segment cars and compact car sales

Mahindra Lifespace incurs Rs 14 crore loss in Q2; pre-sales up 77%

The company, however, achieved pre-sales of Rs 397 crore for the quarter with a saleable area of 0.53 million square feet (msf) in the residential segment

Mahindra Thar ROXX sets record with 1.76 lakh bookings in just 60 minutes

Mahindra has assured buyers that the company will communicate tentative delivery schedules over the next three weeks in a phased manner

Mahindra & Mahindra and Skoda Volkswagen to sign joint venture soon

The JV will include sharing of costs, technologies, and vehicle platforms but will not include sedans, SUVs, and premium brands like Audi, Porsche, and Lamborghini sold by Volkswagen and Skoda

Mahindra expands LCV range with product based on multi-energy platform

Mahindra & Mahindra on Monday expanded its light commercial vehicle (LCV) range with a new product range based on an all new platform developed at an initial investment of Rs 900 crore. The company has introduced "Veero" light commercial vehicle in the less than 3.5 tonne range with both diesel and CNG trims, with price starting at Rs 7.99 lakh (ex-showroom). An electric version of the LCV would be introduced at a later stage. In an interaction with PTI, Mahindra & Mahindra (M&M) President Automotive Division Veejay Nakra said the model will help the company further strengthen its leadership in the LCV (less than 3.5 tonne) segment. The product, with multiple fuel options and payloads, will be useful for various applications, he added. "We have a market share of around 51 per cent in the less than 3.5 tonne LCV segment... now this range comes in 2-3.5 tonne segment where we have a market share of 63 per cent. So it will help us further strengthen market share beyond 63 per

Mahindra Group, Sentrycs ink pact for development of anti-drone solutions

Mahindra Group and Israel's Sentrycs Ltd on Friday said they have signed a non-binding Memorandum of Understanding (MoU) to explore opportunities for developing and providing 'differentiated anti-drone solutions' in India. The solutions will cover civilian and military applications, the two companies said in a joint statement. The MoU relates to the 'anti-drone systems' technology space and will focus on the Transfer of Technology (TOT) and manufacturing of radio frequency-based counter-drone solutions under the government of India's 'Make in India' initiative, it added. The 'differentiated anti-drone solution' is an autonomous and integrated system with a command and control (C2) module, and enables detection, tracking, identification and mitigation of incoming drones. "We believe that this MoU with Sentrycs would enable the group to explore opportunities in the anti-drone space and set the stage for cutting-edge technological offerings with global partners for a full suite of ...

Thar ROXX launch boosts M&M stock price by 3%; up 16% in 3 months

The surge in the stock price followed the company's announcement of the launch of Thar ROXX, its latest sports utility vehicle (SUV).

Classic Legends launches BSA Gold Star 650cc motorcycle at Rs 2.99 lakh

Pricing aimed at disrupting market dominated by Royal Enfield

Motorcycle brand BSA debuts in India; Gold Star 650 priced at Rs 2.99 lakh

Mahindra Group-owned iconic motorcycle brand BSA made its debut in India on Thursday with the launch of 652-cc Gold Star 650 model priced at Rs 2.99 lakh (ex showroom Delhi). One of the oldest motorcycle companies in the world, Birmingham Small Arms Company (BSA), was acquired by the Mahindra group's premium motorcycles arm Classic Legends in 2016. Classic Legends sells Jawa and Yezdi motorcycles in the country. The BSA Gold Star 650, which made a comeback in the UK in 2021, is currently being sold in Europe, Turkey, New Zealand, and the Philippines. "Bringing BSA to India is about sharing a piece of world motorcycling history with India. That indomitable spirit of BSA, a brand built in the fires of battle, is imbued in the new Gold Star," said Anand Mahindra, Chairman Mahindra Group at the launch. The BSA brand is also set to enter the US, Australia, and Japan markets soon, the company said. Earlier this month, Classic Legends Private Limited (CLPL) inked a joint venture (JV) pa

M&M Q1 Preview: Analysts eye strong revenue growth; Ebitda to rise upto 23%

Most of the brokerages expect M&M's profit to fall up to 15 per cent in Q1FY25.

Hyundai opposes duty relief on hybrids, says it will hurt petrol vehicles

Government of India has proposed to reduce GST on hybrid passenger vehicles to 5% and 12% on flex engines, while GST on diesel and petrol vehicles will remain at 28%

Anand Mahindra hails Dipa Karmakar for winning gold at Asian championships

Anand Mahindra wrote a heartfelt message after Dipa Karmakar won gold at the Asian Gymnastics Championships. Here's what he said

'Volkswagen in talks about passenger car production partnership in India'

The comments come after Volkswagen in February signed a supply agreement with India's Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles

Mahindra Scorpio N Adventure edition rolled out in South African market

The off-road-ready Mahindra Scorpio N Adventure edition has been launched in South Africa. However, there are no reports of Mahindra bringing it to India

M&M Finance appoints Mahesh Rajaraman as CRO, to replace Mallika Mittal

Mahindra & Mahindra Financial Services on Tuesday said it has appointed Mahesh Rajaraman as Chief Risk Officer (CRO) of the company with effect from August 1, 2024. In a regulatory filing, Mahindra Finance said Mallika Mittal has tendered her resignation and ceased to be the CRO of the company with effect from May 17. Mittal would be exploring opportunities externally as per her resignation letter. Her resignation would be effective from close of business hours on November 16, 2024, when she would cease to be employee of the company, it added. The Non-banking Finance Company (NBFC) said in the interim period that Gaurav Verma, Head Underwriting & Product Policy, would exclusively oversee the risk management function and would be responsible for the responsibilities under the role of CRO until Rajaraman joins as the CRO. Rajaraman, who has been appointed for a 5-year term, holds 29 years of experience in the banking sector with demonstrated ability in leading and building ...

Mahindra XUV 3XO bookings to start tomorrow; check features, safety, price

Mahindra XUV 3X0 will start accepting bookings tomorrow, days after being launched in India. The bookings will officially begin on May 15. Here's all you need to know

Mahindra, Tata Motors receive record number of patent approvals in FY24

Domestic automobile majors Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year. Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year. M&M said it has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office. "We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent," M&M ED & CEO (Auto & Farm Sectors) Rajesh Jejurikar said. The auto major has so far been conferred 1,185 patents across multiple geographies. As of March 31, 2024, the company has 193 applications awaiting patent approval. Cumulatively, it has filed 2,212 patent applications to date. M&M's

Top 5 SUVs sold in January 2024, Tata Punch tops chart; check the full list

Top 5 SUVs sold in January 2024: Tata Punch sold the highest number of SUVs in India in January 2024. The company sold around 17,978 units last month

M&M January sales: Total vehicle sales rise 15%, reach 73,944 units

Mahindra & Mahindra Ltd on Thursday said its total vehicle sales grew 15 per cent year-on-year to 73,944 units in January. The utility vehicle sales stood at 43,068 units in the previous month as against 32,915 vehicles sold in January last year, growing 31 per cent year-on-year, M&M Ltd said. The commercial vehicle domestic sales during the month under review stood at 23,481 units, a growth of 8 per cent over 21,724 units in January 2023. Its three-wheeler domestic sales, including electric three-wheelers, fell 14 per cent to 5,649 units compared to 6,562 vehicles sold in the year-ago period, the company said.

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