| Mahindra India Related news |
Mahindra & Mahindra offers SUVs on subscription
Posted on 13th September 2019 |
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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. |
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Mahindra & Mahindra defers Rs 1,000 crore capex plan for auto, tractor segments
Posted on 6th September 2019 |
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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. |
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M&M retrenches 1,500 workers
Posted on 19th August 2019 |
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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. |
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M&M sets up first car assembly plant in Sri Lanka with Ideal Motors
Posted on 17th August 2019 |
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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. |
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Tata Motors, M&M set to slash production
Posted on 10th August 2019 |
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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. |
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Mahindra to shut plants for 8-14 days amid weak demand
Posted on 10th August 2019 |
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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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Mahindra seeks relook at vehicle registration charges
Posted on 8th August 2019 |
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As the automotive industry faces its worst slowdown in the past two decades, Anand Mahindra, chairman, M&M, has sought a re-look at the vehicle registration fees and rollback of increase in road tax of state governments after the introduction of goods and services tax (GST). |
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M&M consolidated PAT falls 52.56% in June quarter to Rs 894 over weak sales
Posted on 7th August 2019 |
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Mahindra & Mahindra on Wednesday reported a 52.56 per cent decline in consolidated profit after tax to Rs 894.11 crore in the first quarter ended June 30, hit by lower vehicle sales. The company had posted a consolidated profit after tax of Rs 1,884.66 crore in the same quarter of the previous financial year, Mahindra & Mahindra said in a regulatory filing. |
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M&M’s total domestic vehicle sales down 16% in July
Posted on 1st August 2019 |
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Mumbai: Mahindra & Mahindra (M&M) reported a decline of 16% year-on-year (YoY) in its total domestic wholesales to 37,434 units in July, as the economic downturn continues to hurt the auto industry. The company’s passenger vehicle wholesales fell 15% YoY to 16,831 units during the month, while commercial vehicle sales declined 17% to 15,969 units. |
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Worst not yet over for carmakers, says Mahindra and Mahindra’s Pawan Goenka
Posted on 15th July 2019 |
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The complete collapse in automobile sales has left many perplexed, with volumes expected to clock a modest 3-5% growth in the new fiscal. In the first three months of the financial year, passenger vehicle sales declined by 18.42%. While several factors have come together to contribute to the sharp decline in sales, Mahindra & Mahindra managing director Pawan Goenka is of the view that it is hard to point to any one reason that can possibly explain the industry’s worst show in 18 years. |
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