Search Result for : Mahindra

PTI Demonetisation shaved off as much as Rs.8,000 crore in revenues of auto and tractor industry during November and December but the recovery has been quicker than anticipated and normalcy will be restored by month-end, said Pawan Goenka of Mahindra & Mahindra.In an interaction with PTI, he said if all of the drop in automobile and tractor sales in November and December were to be attributed to junking of 500 and 1,000 rupee notes and not any other seasonal factor, the loss to the industry may be of the order of Rs.8,000 crore or 10% of total revenue."The effect was deeper than we had thought and the recovery is also quicker than we thought and I believe that by end of ...

The Dollar Business Bureau Mahindra group’s Chairman Anand Mahindra told the press that the Mahindra group is envisaging a revolutionary future for commercial vehicles with the development of driverless tractors. Replying to a query regarding survival of conventional auto manufacturers in a transforming ecosystem, he said that mobility of the future is centred around three important sections: role of renewable energy-powered vehicles, autonomous vehicles and shared mobility. He laid stress on Mahindra’s ambitious plans to be geared up for the future. Speaking at the company’s AGM in Mumbai he said, "Everyone in the world is speculating whether conventional mobility companies will survive in a transformed environment. I am not an astrologer and cannot provide guarantees on that score, but I did want ...

The Dollar Business Bureau With an aim to capturing the world’s biggest auto market share and reaching to the youth population with the latest offerings in Africa, Mahindra’s South African subsidiary has launched its compact utility vehicle in the market. The sporty KUV100 is the smallest vehicle in Mahindra’s South African product range and is available in both petrol and diesel variants.  “We have been here for 12 years, in a market of more than 500,000 vehicles, yet we sell only about 4,000 vehicles, which is less than 1% of the total market. So what we are trying to do with this launch is to address a much larger segment of customers,” said Pawan Goenka, Executive Director and Group President, Mahindra (Auto). The company’s ...

The Dollar Business Bureau Mahindra & Mahindra Ltd announced that its exports increased 21% at 4,043 units during May 2016, when compared to 3,337 units in the same month last year. The company’s total sales, including the exports, surged up 11% at 40,656 units in May 2016 against 36,706 units in the same month previous year. The domestic sales of the leading SUV manufacturer of the country rose 10% at 36,613 units during last month, as against 33,369 units in the corresponding month previous year. The sales of passenger vehicles segment that includes UVs, cars and vans have grown 8% at 19,635 units in May 2016 against 18,135 units in May 2015. The sales of medium and heavy commercial vehicles (MHCVs) have ...

The Dollar Business Bureau Mahindra & Mahindra (M&M), the world’s largest tractors manufacturer became the first Indian company to join the EP100 campaign. This is a campaign led by The Climate Group, an international non-profit group, that will work together with one of the world’s most powerful and influential business companies with the aim to double energy productivity and maximize economic output. Prominent figures present during the momentous signing include François Hollande - French President, Ban Ki-moon – UN Secretary of General, Leonardo DiCaprio – Messenger of Peace, and Mogens Lykketoft - President of UNGA. The aim of the EP100 campaign is to encourage companies to use the energy efficiently, as it is estimated that by following this campaign, the world can ...

Source: PTI Utility vehicles major Mahindra is planning to ship its heavy and commercial vehicles to Africa over the next 18 months, a top company executive said on Wednesday. "About 10% of vehicles which we are selling, including light commercial vehicles (LCVs), are exported. We will perhaps go to some parts of Africa in the coming 18 months. We may begin shipment with our latest heavy truck model Blazo and other LCVs," Chief Executive Officer of Mahindra Truck and Bus Division, Nalin Mehta said in Hyderabad. However, Mehta did not provide more details about the plans. Replying to a query, he said their heavy trucks enjoy market share of 3.5% and expects it to double in the next two years. ...

BAE Systems has down-selected Mahindra as its business partner for the proposed in-country Assembly, Integration & Test (AIT) facility for the M777 Ultra Lightweight Howitzer Source: PTI India and the United States are in discussion for supply of 145 M777A2 LW155 howitzers for the Indian Army   BAE Systems today announced selection of Mahindra as its India partner for the nearly $700 million deal for the supply of 145 M777 howitzers, which are ultralight weight artillery guns having a strike range of 25 kms. The gun deal would be through Foreign Military Sales (FMS) but the "spares, maintenance and ammunition will be operated through Indian systems", defence sources said. "BAE Systems has down-selected Mahindra as its business partner for the proposed in-country Assembly, Integration ...

The Dollar Business Bureau Mahindra Truck and Bus Division, a part of $16.9-billion Mahindra Group that manufactures all variants of trucks, on Wednesday said that it will invest Rs.700 crore to bolster its commercial vehicle segment. Emphasising on the company’s visions, Rajan Wadhera, President and Chief Executive - Truck & Power Train - M&M Ltd, said, “The CV (commercial vehicle) industry has seen an upturn over the last few quarters which is a good sign. At Mahindra we have been steadily growing and are fully committed to our commercial vehicles business and taking aggressive steps to become a complete CV range player. “With planned investments and enhancement of our product portfolio, we look forward to ride the growth trajectory,” he added. ...