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Mahindra & Mahindra gets patent for solar power system on vehicle rooftops
Posted on 31st October 2019
Automobile maker Mahindra and Mahindra Ltd has received a patent for its multimodal solar power system, which reduces the electric load demand on vehicle battery, and supports the operation of an air-conditioner. This innovation will help increase the life of vehicle batteries and reduce greenhouse gas emissions.

Mahindra's subsidiary to acquire 100% stake in Peugeot Motorcycles
Posted on 26th October 2019
Mahindra Two Wheelers Europe, a Mahindra subsidiary, is set to seek full control of Peugeot Motorcycles (PMTC) for an undisclosed amount, the company said in a notification to the exchanges.

The move, it said, "reaffirms the commitment" of the group to future growth of the French company. The subsidiary currently holds 51 per cent in PMTC. It entered into the collaboration with PMTC, part of Groupe PSA in January 2015.

Mahindra & Mahindra total sales down 21% to 43,343 units in September
Posted on 1st October 2019

Homegrown auto major Mahindra and Mahindra (M&M) on Tuesday reported a 21 per cent decline in total sales at 43,343 units in September.

The company had sold 55,022 units in the corresponding month last year, M&M said in a regulatory filing.

Ford to transfer struggling India business to joint venture with Mahindra
Posted on 25th September 2019
Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said.

Mahindra & Mahindra offers SUVs on subscription
Posted on 13th September 2019
Pune: Mahindra & Mahindra, India's biggest utility vehicle maker, on Thursday rolled out a subscription-based service for retail buyers of its personal range of cars to boost sales ahead of festive season and amid worst slowing demand.

Under this scheme, Mahindra's vehicles in Delhi (NCR), Mumbai, Pune, Bengaluru, Hyderabad, Kolkata, Chandigarh and Ahmedabad will be available at a subscription price starting from Rs 19,720 per month.

Mahindra & Mahindra defers Rs 1,000 crore capex plan for auto, tractor segments
Posted on 6th September 2019
Mahindra & Mahindra (M&M) has deferred its planned capital expenditure of `800-1,000 crore for the auto and tractor segments owing to a prolonged slowdown in auto sales. The company has also put on hold other discretionary capex, managing director Pawan Goenka said on Thursday.

M&M had in late May announced its plan to invest ` 18,000 crore over the next three years, including `12,000 crore towards capital expenditure and `6,000 crore in its subsidiaries.

M&M retrenches 1,500 workers
Posted on 19th August 2019
Auto major Mahindra & Mahindra (M&M) is seeking a fiscal stimulus package from the government for the automobile sector, which had been battling a prolonged slowdown.

Pawan Goenka, managing director, M&M, told reporters that the company has retrenched about 1,500 temporary workers since April 1 this year.

M&M sets up first car assembly plant in Sri Lanka with Ideal Motors
Posted on 17th August 2019
Mahindra & Mahindra (M&M), along with its local partner in Sri Lanka Ideal Motors, has set up the island nation's first passenger car assembly plant.

The Indian carmaker has set up a joint venture with Ideal Motors, its dealer partner in Sri Lanka for 10 years. The 65:35 JV between Ideal Motors and M&M is christened Mahindra Ideal Lanka Private Limited, which will operate the assembly plant at Welipenna, about 60 km from Colombo.

Tata Motors, M&M set to slash production
Posted on 10th August 2019
PUNE: With the automobile industry slipping into a gorge with no visible sign of revival in the near future, Tata Motors, India’s top automaker by revenue, and Mahindra and Mahindra (M&M), the country’s largest utility vehicle maker, have decided to cut production at some of their plants.

Mahindra to shut plants for 8-14 days amid weak demand
Posted on 10th August 2019
With consumer demand subdued, auto manufacturers continue to cut production. Mahindra & Mahindra (M&M) will keep its plants shut for 8 to 14 days in the July-September quarter as demand remains weak and inventory at dealers remains higher than normal.

In the April-June quarter, Maruti Suzuki, Toyota, Honda Cars India and Tata Motors had cut production by 7-18% year-on-year (y-o-y). This is the second consecutive quarter in which the Mumbai-based automaker will be trimming production.

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