Attacks on Mumbai—India’s second biggest car market, behind Delhi—have dampened the hopes of any revival of sales for auto
majors, which
have witnessed a slowdown in the past few months. “There will certainly be a drop in sale in Mumbai as people will not venture out to buy cars,’’ Pawan Goenka, president of automotive sector at Mahindra […]
The Renault-Nissan combine has decided to scale down its production plans in Chennai. The combine will now have one common assembly line instead of two production lines proposed earlier, sources close to the development said.
“This is a short-term alignment of the product ramp up. We are continuously evaluating the situation,” a company official said. In […]
Japanese major Kubota Tractors is exploring the possibility of setting shop in India through a joint venture (JV) with Japan’s largest integrated business enterprise Sumitomo Corporation for manufacturing tractors.
The JV will focus on the mid-range 30-40hp tractors that account for the maximum sales, sources close to the development said. M&M and Punjab Tractors have a […]
Mahindra & Mahindra and its Australian distribution partner TMI Pacific are coming together to form an Australian subsidiary. They have entered into an agreement to form the new venture Mahindra Automotive Australia, which will continue the marketing, promotion and retail of Mahindra vehicles in Australia.
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Courtesy: indiacar.net
Mahindra and Mahindra (M&M), one of India`s leading automaker, announced it has entered into a joint venture
(JV) agreement with it`s existing partner, TMI Pacific, a local Australian importer and distributor of vehicles. This agreement will lead to the formation of a new company called Mahindra Automotive Australia whih will continue the marketing, promotion and retail […]
Auto major Mahindra and Mahindra (M&M) Friday said it would launch a multi-utility vehicle (MUV) within the next two months.
The new MUV, Mahindra Xylo, was codenamed Ingenio in the development stage.
“Xylo has been developed by a project team consisting of 160 experts who have created new benchmarks in terms of styling, technology and performance,” Pawan […]
Utility heavyweight Mahindra & Mahindra (M&M) is launching another multi-utility vehicle Xylo, its most ambitious project after Scorpio, within the next two months.
The Xylo (positioned between the Bolero and the Scorpio) is speculated to be priced around Rs 7-8 lakh to compete with Toyota?s Innova. Primarily a mid-segment player, M&M is also planning to launch […]
Emkay Shares and Stock Brokers maintained a BUY rating on Mahindra and Mahindra with a target price of Rs 410.
The analysts at Emkay say that M&M`s Q2FY09 performance was in line with expectation aided by higher inventory accretion and lower tax rate. The analysts said that while net sales at 31.1 billion were below their […]
Tractor major Mahindra & Mahindra on Thursday said that its shareholders have approved the amalgamation of Punjab Tractors with itself.
The equity shareholders of the company, at its court convened meeting held on October 29, have approved the scheme of amalgamation, Mahindra & Mahindra said in a filing to the Bombay Stock Exchange. More
Courtesy: indiacar.net
The high interest rate and input cost put pressure on operating margins and profits, although vehicle sales went up during the June-September quarter, said auto major, Mahindra & Mahindra. The volumes across different segments of the company?s automotive division as well as farm equipment division have grown during the quarter.
Raw material consumption went up 24 […]