Mahindra Introduces Bankers Bonanza

Mahindra to keep the ball rolling, announced a special scheme, “Bankers’ Bonanza”, exclusively for bank employees. The initiative is introduced to mark the contribution of financiers across the nation for making customers realize their dreams of owning a vehicle in reality. As part of this initiative, Mahindra is offering bank employees benefits upto Rs. 25,000 on the personal range of Mahindra four wheeler vehicles.

The employees of all the banks across the country will be able to avail this benefit. The scheme will come in effect for two months starting July till 31st to August 2014. Bank employees can visit Mahindra dealerships to avail the offer.

Speaking on the launch of the scheme, Arun Malhotra, Chief Sales & Customer Care Officer, Automotive Division, Mahindra & Mahindra Ltd. said, “Financiers are an integral part of the automotive business model since a majority of vehicle purchases are finance based in India. The introduction of this scheme is our way of acknowledging the support and valuable contribution made by bankers and providing a further fillip to our relationship going forward.”

Mahindra Verito Vibe

Saab Mulling Alliance With Mahindra And Dongfeng?

Saab is reported of getting associated with Mahindra for bailing itself out of the financial crisis. However, the Mahindra Satyam and Saab recently concluded deal on the security system and some other IT gimmicks, but there weren’t concrete talks on the automotive aspects. China’s Dongfeng was rumoured to be the in the talks of the said automotive aspect too. This venture will have the two-ends where one will belong to Mahindra and the other one to the Chinese firm.

Further news, or can be said as rumours, suggested Mahindra is interested in purchasing a major stake of Saab with perception to re-launch the brand around the world.

The purchase of Saab by Mahindra will lend the Indian automaker an expansion of its reign over the global market with a more remarkable pinnacle. Mahindra still had its presence in key markets like United States and China. And the major motive remain is – if wanted to make a move against the giant then buy up the giants whoever is available, like what Tata did with the JLR to stand against likes of Mercedes-Benz, Audi and such.

Saab Mulling Alliance With Mahindra And Dongfeng

Dongfeng’s interest in Saab is said to be vague, but the sources said company appears to be primarily interested in the Phoenix platform that Saab was developing when it filed for bankruptcy in 2011. This could lead them the rights of using it in the Chinese market.

News confirmed Swedish carmaker had talked with both of the firms, but preferred to keep mum on the issue. However, if the deal would be inked, then the venture will happen soon.

Mahindra XUV500 Sportz Launched for Rs 13.68 Lakh ex-showroom Mumbai

Mahindra is always excited to bring in the limited edition to market after every interval.  Now, it’s time for the Cheetah inspired XUV500 of Mahindra to get assorted.

Launched the limited edition ‘XUV500 Sportz’ based on the top-end variant W8 (FWD), the limited edition model is priced at Rs 13.68 Lakh (Ex-showroom Mumbai), which is approximately Rs 30-40k costlier than the outgoing W8 (FWD).

On the note of being limited, it is said only 1000 units of it are going to be made, which will be featured with the following nip and tucks:

Mahindra XUV500 Sportz Launched

  1. Unique Alloy Wheels with signature red inserts
  2. Convenient rear-view Camera
  3. Sporty Leather-Fabric Seats
  4. Fog lamps & door handles with red accents
  5. Stylized roof rails in red
  6. ‘Sportz’ badging

Speaking on the launch of the ‘XUV500 Sportz’, Vivek Nayer, Chief Marketing Officer, Automotive Division, Mahindra & Mahindra Ltd. said, “We are pleased to introduce the limited edition ‘XUV500 Sportz’ for discerning customers. The Mahindra XUV500, with its winning combination of aspirational styling, advanced technology & safety features, comfort & convenience has already created an impact in the hearts & minds of consumers. This new offering of ‘XUV500 Sportz’ aligns with our leadership position in Indian motor sports & rallying and reflects our ‘Sporty’ DNA very well. We believe that it will create a new benchmark in exclusivity to further enhance the XUV500’s appeal amongst customers.”

Hence, there are no mechanical changes made. The same 2.2-litre mHawk diesel engine of 140bhp (103Kw) and 330Nm torque is mated to a 6-speed manual transmission.

Mahindra Announces Free PUC Check-up Camp on World Environment Day

Celebrating the World Environment Day on 5th June 2014, the Mahindra and & Mahindra Ltd. (M&M), India’s leading SUV manufacturer announced a free PUC check-up camp for all Personal and Commercial Mahindra vehicles. This initiative will be conducted in association with the Society for Indian Automobile Manufacturers (SIAM) and the Society for Automotive Fitness & Environment (SAFE).

At the PUC camp, Mahindra customers will be granted an opportunity to ensure their vehicles CO2 footprints are within the prescribed emission limits set by Regional Transport Offices (RTOs). To an addition, customers can avail of PUC check for their Mahindra vehicles for free of cost. RTO authorised PUC machines will be installed to check the required parameters as per emission standards.

Mahindra Announces Free PUC Check-up Camp on World Environment Day

In a vision to mark the hope of a greener tomorrow throughout the year, Mahindra will also undertake widespread distribution of saplings to its customers and other stakeholders to commemorate the day.

Speaking on the occasion, Sanjoy Gupta, Vice President – Customer Care, Automotive Division, Mahindra & Mahindra Ltd. said “Mahindra has always been committed to the cause of sustainable development across its entire value chain. Our products conform to the strictest emission norms and reaffirm our commitment and responsibility towards society and a clean and green tomorrow. The Free Pollution check-up campaign organized to commemorate the World Environment Day across our entire service network is a modest step to further that vision and offer better value to our customers.”

Mahindra owners can ring up the toll-free help line number (1800-209-6006) or can contact their nearest dealership for appointments.

Mahindra & Mahindra currently enjoys network of more than 400 authorized workshops spread across the length and breadth of the country, so finding a one will not be a hectic job on World’s Environment Day.

Mahindra Auto Sector sells 37,869 units during May 2014

In an order to make a vow forward, the Assembly Elections of 2014 seems to have turned out negative results for Mahindra.

Drawn domestic sales of 37,869 units during May 2014, the Mahindra and Mahindra stood backstaged against the 42,104 units sold during May 2013.

The Passenger Vehicles segment (inclusive of UVs and Verito) sold 18,085 units in May 2014, as against 22,244 units during the same period last year.

The 4-wheelers commercial segment returned number of 12,836 units on sale sheet, while the 3-wheelers segment clocked 3,732 units in May 2014. Exports for the month stood at 2,370 units indicating a growth of 75%.

Mahindra Auto Sector sells 37,869 units during May 2014

Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “Auto sales continue to remain subdued for many players, at the back of yet another challenging month for the industry. Post the electoral mandate, we expect to see improved sentiments resulting in a better economic situation which we hope will lead to a gradual increase in demand. We are happy to have achieved a growth of 75% in our export volumes during May”.

Mahindra and Mahindra Upgraded To ‘AAA’ By India Ratings

M&M (Mahindra & Mahindra) sees its Credit Rating updated to AAA, the highest level by India Ratings & Research, international ratings agency, Fitch’s domestic arm. The firm was assigned a Long Term Issuer rating of Ind AAA with a stable outlook to M&M. This is a result of Mahindra’s resilience to economic cycles in the past 18 years. The rating also takes into account the automaker’s strong market position, conservative financial policies, effective product development strategies and meaningful diversification activities.

Commenting on the development, Mr. Anand Mahindra, Chairman at Mahindra Group said: “This enhancement in our credit rating is a reflection of the company’s financial prudence over the years.” “It also recognizes our capability to manage an increasingly volatile and complex business environment.”

Mahindra and Mahindra Upgraded To 'AAA' By India Ratings
According to Mr. V.S. Parthasarathy, Chief Financial Officer. Group CIO, Executive Vice President – Group M&A & Member of the Group Executive Board, Mahindra & Mahindra Limited said: “The Ind AAA rating proves that the company has remained stable in spite of adversities by concentrating on the highest standards of government and prudent business and financial metrics to ensure zero trauma. In the context of fears over the credit quality of banks’ corporate loan book, the rating assumes significance as an independent reassurance of the Mahindra Group’s robust and conservative financial policies. Even as we celebrate this occasion, we are aware of our responsibility of protecting this rating in times to come.”

Mahindra & Mahindra To Stop Production For 3 Days This Month

Home grown auto major, M&M (Mahindra & Mahindra), as a part of aligning its production with sales requirements would be observing no production days at the company’s facilities for up to three days during the remaining period of May, 2014. The company further said that one of its completely owned subsidiary Mahindra Vehicle Manufacturers Limited’s facility at Chakan would also be observing no production days. The management doesn’t envisage any adverse impact on the availability of the vehicles in the market because of adequacy of vehicle stocks to serve the market requirements.

Mahindra & Mahindra had reported 12% decline in total sales at 36,274 units in April. Its domestic sales stood at 34,107 units as against 39,902 units in the same month of previous year, down 15%. Earlier in January, 2014, the automaker had undertaken a similar no production days for three months to adjust production to market demand. Currently, Mahindra & Mahindra has manufacturing plants at Chakan (Near Pune), Haridwar and Nashik for its automotive sector.

Mahindra & Mahindra To Stop Production For 3 Days This Month

Shares of the company were being quoted lower by 0.03% at Rs. 1135.1 in midday trade on the Bombay Stock Exchange.

Mahindra Auto Sector sells 36,274 units during April 2014

Mahindra & Mahindra Ltd. (M&M Ltd.), announced its auto sales, stood at 36,274 units during April, 2014.

The Passenger Vehicles segment sold 18,148 vehicles during the month, as against 20,748 units of April 2013. The company’s domestic sales ranked at 34,107 units during April 2014, as against 39,902 units during the same period of last year.

The 4-wheelers commercial segment had churned a number of 11,677 units, while the 3-wheelers segment clocked 3,532 units in April 2014. Exports for the month stood at 2,167 units, a growth of 42%.

Mahindra Bolero

Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “It is unfortunate that the auto industry has not seen an upturn over the last couple of months in spite of a reduction in excise duty. We do hope that post the general elections, sentiments improve leading to a better economic situation and hence increased demand. At Mahindra, we are happy with our Exports performance for the month and we continue to be optimistic going forward and expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives”.

Sales Summary April 2014

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Mahindra enters into preferred financier agreement with Sharad Shakari Bank, Manchar for Car Loans and Commercial Vehicle Finance

Seems to be working on a new strategy, Mahindra has signed a Preferred Financier agreement with Sharad Shakari Bank, Manchar. The Memorandum of Understanding (MoU) would enable Mahindra customers to avail of vehicle finance from any of the branches of the Bank. The MoU was signed by Mr. Jacob Varghese, Sr. GM – Sales, West Zone, Automotive Division, Mahindra & Mahindra Ltd. and Mr. Devendra Shah, Chairman, Sharad Shakari Bank in the presence of Shri D.S. Joshi, CEO, of the bank and Mr. Manoj Kumar Gupta, D.G.M – Sales, Rest of Maharashtra, Automotive Division, Mahindra & Mahindra Ltd.

The tie-up will enable both M&M Ltd. and Sharad Shakari Bank to leverage on the inherent strengths of each other’s vast network. Mahindra & Mahindra has a network of over 28 dealer outlets and 85 branches respectively across Maharashtra, while Sharad Shakari Bank has 13 Branches.

Speaking on the occasion, Mr. Devendra Shah, Chairman, Sharad Shakari Bank said, “Sharad Shakari Bank is expanding its operations in commercial and passenger vehicle financing. It has been making niche offerings to its customers and this arrangement with Mahindra & Mahindra will be one such special initiative. Customers of Sharad Shakari Bank will benefit from this tie-up since they will have privileged access to the specialized services of Mahindra & Mahindra Ltd.”

Mahindra enters into preferred financier agreement with Sharad Shakari Bank Manchar for Car Loans an

“This partnership will definitely benefit customers. We have customized a comprehensive product catering to the varied needs of this niche customer base. We will promote it proactively by offering competitive interest rates and we expect to increase our portfolio considerably in this segment”, said Shri D.S. Joshi, CEO, Sharad Shakari Bank, after putting his signature on the MoU.

Speaking on the tie-up, Mr. Jacob Varghese, Sr. GM – Sales, West Zone, Automotive Division, Mahindra & Mahindra Ltd. said, “At Mahindra, we relentlessly look at options to provide the best schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. Sharad Shakari Bank offers innovative products and services at affordable rates. With highly competitive schemes for car loans and commercial vehicles, we are hopeful of a good response from our dealers and customers”.

Mahindra raises prices of its product portfolio

Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced that it would be raising the prices of its passenger and commercial vehicles by up to 2%. This increase would be effective January 1, 2014.

The price increase is primarily due to rising materials, input and higher freight costs.

Commenting on the price hike, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We have been holding back prices for a while but now it has become necessary to raise them to partly compensate the increase in materials, input and freight costs. As always, Mahindra remains committed to its customers”.

Mahindra raises prices of its product portfolio