Page 9 - Mahindra

Anand Mahindra pitches for lower GST or cess rollback to revive auto sector

Pitching for a lower GST or a rollback of the cess to pull the automobile industry out of the slowdown, M&M group chairman Anand Mahindra on Wednesday said that a revival of the industry would have a ripple effect on the entire economy. The domestic auto industry has been in the throes of crisis for almost one year now as the sales are falling month after month, forcing manufacturers to temporarily shut factories and laying of workers. As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal. "I do believe that kick-starting the auto industry with a few short-term measures will serve a greater national purpose," said Mahindra addressing the company's shareholders at its 73rd AGM here. Along with long-term measures, the short-term measures also required that would remove the immediate barriers to making autos affordable, he said. "The most obvious and welcome first aid would be some temporary relief on the GST front, ...

Australia grounds Mahindra Aerospace GA8 planes after Swedish crash

There are 228 GA8 planes worldwide, 63 of which are registered in Australia, CASA said

Mahindra wins Gold Award in South Africa for fairing on various indicators

The automobile giant, which has more than 60 dealers in South Africa, secured the top position out of the 29 vehicle brands surveyed for the awards

Mahindra to increase price of vehicles by up to Rs 73,000 from April

Auto major Mahindra & Mahindra (M&M) Thursday said it will increase the price of its passenger and commercial vehicles by Rs 5,000 to Rs 73,000 from April to partially offset the impact of rising input costs. The price of the company's vehicles will go up by 0.5 per cent to 2.7 per cent from next month due to the price hike, the company said in a statement. "This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1 that have also led to cost increases. While we have made efforts to reduce our costs, it has not been possible to hold back the price increase," M&M President Automotive Sector Rajan Wadhera said in the statement. Consequently, the company is taking a price increase from April 1, he added. The company sells various utility vehicles ranging from newly launched compact SUV XUV300 to premium SUV Alturas G4. M&M also sells various commercial vehicles including Supro and Jeeto in the domestic ...

Mahindra puts SsangYong launch in US, Indian car markets on hold

Home grown auto major Mahindra & Mahindra (M&M) has put on hold plans to introduce SsangYong brand in the US, a top company official said. The company is also averse to introducing SsangYong Motor Company branded cars in India in the short to medium term. "If we had done the launch of SsangYong in the US we probably would have launched it with a different name...in fact we have decided right now to put it on hold (US launch)," M&M Managing Director Pawan Goenka told reporters here on the sidelines of the launch of SUV Alturas G4. He was replying to a query if the Mumbai-based firm was planning to change the name of its South Korean subsidiary which it acquired in 2011. Goenka said the jury is still out on the matter, with some supporting a name change while others opposing it. "Our global distributors are against it. As of now we have not decided on it as this matter is not in our priority list right now" he added. Last year, Mahindra Group Chairman Anand Mahindra, while ..

Mahindra expects quicker flow of EV tech from Formula E to road cars

In Formula 1, the racing series for conventional internal combustion engines, it is a much bigger gap

Mahindra tractor sales up 22% to 40,529 units in June over year-ago period

Home-grown auto major Mahindra and Mahindra (M&M) today reported 22 per cent rise in total tractor sales to 40,529 units in June. It had sold 33,093 units in June last year. Domestic sales were at 39,277 units as against 31,660 units in the same month a year ago, up 24 per cent, M&M said in a BSE filing. Exports in the last month stood at 1,252 units as against 1,433 units in the year-ago period, down 13 per cent, it said. M&M President - Farm Equipment Sector, Rajesh Jejurikar said: "With the healthy spread of the monsoon across the country, we are hopeful of a good agricultural output, leading to improved market sentiment".

Mahindra bets on new engine to fuel growth

Tractor-to-technology conglomerate invests aggressively in mobility, big data and AI to tackle disruption

In a first, Mahindra showcases driverless tractors

Its capabilities include auto-steer, auto headland turn, automatic implement lift and drop, skip passing, obstacle detection and avoidance, geofence lock and emergency stop.

Mahindra-Sumitomo Chennai JV project in final stages of approval

Mahindra Industrial Park Chennai Ltd (MIPCL), a project jointly developed by Mahindra Lifespace Developers Ltd (MLDL) and Sumitomo Corporation of Japan, is in the last leg of approval process, according to senior management officials from MLDL.Speaking to the reporters here, Sangeeta Prasad, CEO, Integrated Cities and Industrial Clusters, MLDL, said, "The North Chennai project will be a domestic tariff area (DTA) project. We have procured the land needed for the first phase of the project and after that only we have moved for approval process".Shyam Kalyanasundaram, business head of the MIPCL said that the company is in the last leg of approval process and the Phase-I will be of 250 acres while a phase 2 of similar size would follow in a later stage. The project is coming up near NH5, in North Chennai almost five kilometers away from Gummudipoondi.While the Mahindra World City in Chennai and Jaipur are of a similar format with SEZ included, the North Chennai project and the recently ..

Mahindra launches upgraded SUV KUV100 at Rs 6.37 lakh

The KUV100 price starts at Rs 4.58 lakh

Mahindra sales decline 4% at 36,363 units in December

In the domestic market, sales were down 1.5% to 34,310 units last month

Mahindra First Choice plans to sell stakes, raise $50 million

Company eyes Rs 1,000 crore turnover in 3 years

Mahindra's SmartShift targets 1 mn stakeholders by 2019

The company has so far garnered 10,000 stakeholders and claims to clock about 1,200 transactions every day

Mahindra interested in Amtek's overseas assets

Amtek Auto is liquidating its overseas assets to bring down its debt of Rs 15,000 crore

Mahindra sales up 8% at 46,130 units in September

The company had sold 42,848 units in the same month last year

Automaker Mahindra, ride-sharing firm Ola to partner up

The alliance is expected to generate total revenues of $400 million over the next two years

Mahindra Group bets on branded car spare parts

From 10% of total turnover at the moment, company expects the share to rise to 30-40% in the coming years

Mahindra Mutual Fund eyes semi-urban India for growth

The combined mutual fund corpus was only 3-4% of the total savings

Mahindra aims to be full-range CV player in next 2-3 years

Besides, the company is drawing up plans to consolidate its presence in verticals where it is already present