Mahindra Celebrates 50 Lakh Production Milestone

It’s always a call for celebration when an automaker reaches a certain production milestone. And today, it was a day for Mahindra. It called all the journo for ringing the bell of reaching the five million production benchmark.

Venue was the Mahindra’s NBS international showroom opposite to Girgaum Chowpatty, in the plusher South Bombay.

Starting from there, a chain of 3,000 workmen were formed, clocking over 2.5km, reaching the dead end at Air India Building.

To make it grandeur, various heads of the Kandivali factory came all the way to the city of Bombay, all for boosting up the spirit of their men. Even, Mr. Pravin Shah, Chief Executive of Automotive Division, Mahindra & Mahindra was a one amongst them.

Mahindra Celebrates 50 Lakh Production Milestone

However, no other appeasements reported. That was all for the day.

Mahindra Celebrates 50 Lakh Production Milestone

Mahindra & Mahindra Q2 Net Grows by 9.7%

The Board of Directors of Mahindra and Mahindra Limited today announced the unaudited financial results for the quarter ended 30th September 2013 for the company.

Mahindra Vehicle Manufacturers Limited (MVML), located at Chakan near Pune, was set up as a 100% subsidiary of the company with a view to sourcing contemporary products for expanding the market offerings of the company. Hence it is a critical part of its business and only the combined results of the company and MVML can provide a comprehensive view of company’s performance.

In the Passenger Utility Vehicle segment, the Entity sold 47388 vehicles in the current quarter with a market share of 39.6%. In the Cars segment, the Entity sold 2879 Verito and Verito Vibe Cars. The Entity also exported 8059 Vehicles in Q2 F2014.

Mahindra & Mahindra Q2 Net Grows by 9.7%

The Gross Revenues and Other Income of Mahindra & Mahindra Ltd. for the quarter ended 30th September 2013 is Rs. 9890.6 crore as against Rs. 10891.4 crore during the corresponding period last year. The Net Profit after tax for the quarter is Rs. 989.5 crore as against Rs. 901.8 crore in the same period last year – a growth of 9.7%.

The Gross Revenues and other income of Mahindra & Mahindra Ltd. during the half year ended 30th September 2013 is Rs. 20778.4 crore as against Rs. 21007.2 crore in the corresponding period previous year. The Profit after tax for the current H1 is Rs. 1927.4 crore as against Rs. 1627.4 crores in H1 previous year – a growth of 18.4%.

The consolidated Gross Revenues and Other Income of the Group for the Quarter ended 30th September 2013 grew by 3.9% to Rs. 18675.6 crore (USD 3.3 billion) from Rs.17973.4 crore (USD3.2 billion) in Q2 last year. On account of a change in the status of Tech Mahindra from a Joint Venture to an Associate effective 31st Aug 2012, the revenues reported above include M&M’s share of Tech Mahindra revenue for 2 months only in Q2 F2013. On a like to like basis the growth in the consolidated revenues in the current quarter is 6.6% over Q2 F2013. The consolidated profit after tax before minority interest for the current quarter is Rs. 927.4 crore (USD 163.6 million) as compared to Rs. 786.8 crore (USD 138.8 million) in Q2 previous year a growth of 17.8%. After deducting minority interest, the profit after tax for the current quarter is Rs. 835.7 crore (USD 147.4 million) as compared to Rs.798.7 crore (USD 140.9 million) in the previous year.

The Group’s recent acquisition Ssangyong Motor Company Limited, S. Korea, which had broken even in Q1, continued its profitable ways with a 20% growth in consolidated revenues and a 114% growth in results. The performance of Tech Mahindra with a 39% growth in consolidated revenues and a 58% increase in profits and that of Mahindra Finance with a 32% growth in consolidated revenues and a 21% growth in profits, were particularly noteworthy.

The Gross Revenues and Other Income for the half year ended 30th September 2013 grew by 10.4% to Rs. 38031.6 crore (USD 6.7 billion) from Rs. 34455.8 crore (USD 6.1 billion) in H1 last year on a comparable basis. The consolidated Profit after tax before minority interest for the current half year is Rs 1980.7 crore (USD 349.4 million) as against Rs 1806.5 crore (USD 318.7 million) in H1 last year – a growth of 9.6%. After deducting minority interest, the profit after tax for the current Half year is Rs. 1803.8 crore (USD 318.2 million) as compared to Rs.1825.1 crore (USD 321.9 million) in the same period of previous year.

The Group as on 30th September 2013 comprised of 130 Subsidiaries, 7 Joint Ventures and 10 Associates. A full summation of Gross Revenues and other income of all the group companies taken together for H1 F2013 is Rs. 47442.7 crore (USD 8.4 billion).

The Indian economy continues to struggle. With domestic demand weakening and manufacturing activity stagnating, growth in the first quarter of F2014 dropped to 4.4% and is likely to see only marginal improvement, if at all, in the second quarter. At the same time, inflation remains high and rising, limiting the space for growth supportive monetary policy action. Nevertheless, we expect the economy to perform better in the second half of this fiscal. First, as a result of both domestic policy actions and the US Fed maintaining status quo, near term balance of payments risks facing the Indian economy have eased, stabilizing the Rupee and thus limiting cost-push inflationary pressures on the economy. Second, the robust agricultural harvest expected in the coming months is likely to dampen inflation while simultaneously boosting rural output, incomes & demand and thereby, productive activity in other segments of the economy. Finally, with the advanced economies recovering, and the rupee no longer over-valued, exports should pick up speed in the coming quarters. Given these encouraging pointers, our current outlook on the economy is one of cautious optimism

Note: Translation of rupee to dollar is a convenience translation at the average exchange rate for the twelve month period ended 30th September 2013.

Mahindra New Bolero Pick-Up Flat Bed with Micro Hybrid Technology launched in Mumbai for Rs 5.45 lakh

Mahindra & Mahindra Ltd., the leader in the Indian pick up segment, today announced the launch of a refreshed ‘Bolero Pick-Up Flat Bed’, at a price of Rs 5.45 lac (BS3 version) ex-showroom Mumbai. The refreshed look Bolero Pick-Up Flat Bed comes with pioneering micro-hybrid technology, more contemporary and stylish exterior and interiors and a higher load capacity of 1,250 kg. It retains the core values of the tough and rugged Bolero Pick-Up.

The Bolero Pick-Up Flat Bed is the flagship brand in Mahindra’s pick-up portfolio contributing over 60% to overall pick-up sales. The stylish new Bolero Pick-Up Flat Bed will cater to the evolving needs of stand operators, businessmen and traders. It is powered by Mahindra’s trusted and proven MDI Engine which has an output of 63HP (46.3 KW) with 195 Nm of Torque, equipped with Micro Hybrid technology & delivers an excellent 13.86 km per litre* of mileage.

Speaking on the launch, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd., said “The Indian pick-up market is growing at a healthy rate and is also witnessing an evolution in customers’ demands and behaviors. As leaders in the pick-up segment for over a decade, we have made it a business imperative to understand these changing needs and evolve our products accordingly. The new Bolero Pick-Up Flat Bed with more modern, macho and stylish looks and superior fuel efficiency is a step forward in this direction to deliver greater earning potential for our customers while retaining the basic tough and rugged DNA associated with Mahindra vehicles.”

Mahindra New Bolero Pick-Up Flat Bed

M&M Ltd. riding low tunes of industry, posted negative sales figures last month

Riding the lows of industry, Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, managed to post its auto sales at 37,897 units which stood at 45,836 units during August 2012.

The Passenger Vehicles segment (which includes the UVs and Verito) sold 15,821 units in August 2013, as against 21,831 units during August 2012. The company’s domestic sales stood at 35,159 units during August 2013, as against42,826 units during August 2012. The 4 wheeler commercial segment which includes passenger and load vehicles sold 13,718 units, while the 3 wheeler segment clocked 5,149 units in August 2013. Exports for the month of August 2013 stood at 2,738 units.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “The auto industry which is currently going through one of its most challenging phases, is in desperate need of some short-term fiscal stimulus. The weakening rupee, resulting in increased inflation, is impacting cost of operations. Immediate action by the government is needed so as not to lose out on the upcoming festive season wherein sales could look up and bring some cheer for the auto industry and add additional revenue to the government.”

M&M Ltd. riding low tunes of industry posted negative sales figures last month

Mahindra sells 12 lakh units of small commercial vehicles in India

Mahindra & Mahindra Ltd. is known for touching the new heights, and this time it is the small commercial vehicles portfolio which had made the Indian automotive feel proud once again. As learnt, the Mahindra having 12 products across various segments of small capacity commercial vehicles, the organizations successfully managed to sell 12 lakh units till date.

Mahindra is most probably known for offering the widest range in the small commercial vehicles category.

The said segment of Mahindra offers, vehicles from pick-ups to 3 wheelers with multiple load carrying capacities suitable for varied consumer needs across urban and rural India. And with over 12 products across segments, Mahindra puts an end to the claim which we had mentioned in the above stanza.

Speaking on this milestone, Pravin Shah, Chief Executive, Automotive Sector, Mahindra & Mahindra Ltd. said, “We are delighted to have crossed the 12 lakh mark in our commercial range of vehicles and we are thankful to our customers for their continued support. Mahindra currently offers the widest range of commercial vehicles to cater to the many and varied needs of its customers which has been possible due to the customer insights which we have worked upon. Our 250 dealerships with over 1000 service points enable us to reach out to our customers as per their convenience, even in the rural hinterland.”

Mahindra sells 12 lakh units of small commercial vehicles in India

Mahindra & Mahindra becomes the Second Biggest Commercial Vehicle Manufacturer in India

The Indian Commercial vehicle business has seen so much positive and negative events during the past 12 months because of declining sale facts in the mid and heavy truck array, whilst an augmentation in the pick-up assortment.

And as they one’s loss is the other’s benefit, so this has taken the Indian automobile giant Mahindra & Mahindra at the second position putting back the Ashok Leyland.

As per SIAM facts, Mahindra & Mahindra’s sale facts remained at 1,67,588 vehicle units during April 2012 to February 2013, whilst Ashok Leyland could manage to sell 1,00,592 vehicle units in the same period.

While commenting on the same, Ashok Leyland’s representative stated, “Ashok Leyland is still the second biggest boasting a market share of 26.1 per cent in that segment,” Ashok Leyland doesn’t comprise ‘Dost’ in its sale facts count as it’s a joint venture product, a total 30,592 vehicle units of Dost got sold during the April-Feb period.

Mahindra & Mahindra becomes the Second Biggest Commercial Vehicle Manufacturer in India
“Dost has already attained leadership place in the majority of markets where it functions,” he also stated.

The medium and heavy commercial vehicle range in the Indian market has witnessed a big decline in the existing fiscl year.

Commercial vehicles dropped 22% during the April-Feb phase with the 25.2-31.3 tonne multi-axle vehicle and 30-49 tonner multi-axle trailers registering the major decline in sales.

Sales in these two sections dropped around 27 per cent each.

Whilst M&M is in front in big CVs owing to its pick-up numbers, Ashok Leyland is superior in medium and heavy commercial vehicle assortment.

Mahindra & Mahindra Surpasses Tata Motors to Gain the Third Spot in the Auto Market

As per fresh reports, Mahindra & Mahindra has surpassed Tata Motors to become the third biggest car manufacturer in the Indian market.

During the first quarterly period of this financial year, the Utility car giant sold 61,504 cars in the country.

On the other hand, Tata Motors sales decline around 7% to 60,405 units during the same period of 2012-13.

Even during the last month (June 2012), the sales of Mahindra & Mahindra remained up at 19,259 units as compared to the 17,244 units sold by Tata Motors.

Mahindra & Mahindra Surpasses Tata Motors toGain the Third Spot in the Auto Market

The demand for the sport utility vehicles and multi utility vehicles have strengthened M&M’s place in the Indian market and regardless ofbolsteringfabrication there is waiting phase for bulk of the Mahindra cars.

The orders for Tata Motors continued to decline in the recent time. Previously, Tata Motors lost its second place to Hyundai and at the present, third rank to Mahindra & Mahindra.

Tata Motors want to refurbish their completearray, together with designs as the most of their vehicles are now linked only with taxis market. As Mahindra & Mahindrahas taken on the third spot, but it’s still far behind Hyundai, which stands on the second position with sales of 30,450 units during the last month.

The market head, Maruti Suzuki, is in a different combinationholding market share of more than 42%Maruti Suzuki sold 83,531 vehiclesduring the last month.

Mahindra & Mahindra to showcase Special Edition XUV 500 and Scorpio at the Harvest Day Show in South Africa

Mahindra & Mahindra, the automotive giants from India, is all geared up to launch their latest special edition models of XUV500 and Scorpio in South Africa. Mahindra & Mahindra, who have a sizeable share of the automobile market in South Africa, will debut their new models at the Harvest Day Show. The Harvest day show is held annually at NampoPark in South Africa and attracts visitors and exhibitors from all across the world. The fact that Mahindra & Mahindra have chosen this show to exhibit their specially designed vehicles will surely add to the prestige of this company, which has big plans to grab a better share of the market in South Africa. Incidentally, this company hadset up office in South Africa in October 2004 and has a huge dealer network in all the nine provinces there.

The Mahindra XUV500, designed as per international standards, is built on a monocoque frame and is powered by a 2.2 mHawk engine which gives a max output of up to 140 bhp with an effortless 6-speed transmission. Other features include ABS, airbags and ESP.

Mahindra & Mahindra to showcase Special Edition XUV 500 and Scorpio at the Harvest Day Show in South Africa

The focus of the Harvest Day show would primarily focus on Mahindra & Mahindra’s extremely popular models like the Scorpio and Genio besides the Ssangyong models.

In a statement issued by the automotive manufacturer, the company has said that the automobiles have been specifically designed to cater to the large farming community of South Africa. These models have the ability to be more effective in rural areas where roads are not laid and are essentially dirt tracks. The single cab Bolero will also feature prominently for just this segment. Plans are also afoot to cater to made to order automobiles from the farming sector.

Mahindra & Mahindra plans to tighten its hold on the MPV market

The biggest utility vehicle producer of India, Mahindra & Mahindra, is planning to tighten its grip on to the multi-purpose vehicle market of India by developing a new MPV. This MPV is going to be based on the platform of its compact truck Mahindra Maxximo. This new vehicle is currently undergoing tests in the Mahindra Research Valley in Chennai. However, the date for the launch of this vehicle has not been revealed by the auto manufacturer. The development of an MPV on the platform of a compact truck requires many changes in different and crucial areas like transmission and power. The good news here is that Mahindra Maxximo is the most technologically sound mini truck, which is running strongly on the Indian roads today. It also has a minivan and a mini-truck trim to its credential.

Now along withthis new MPV, Mahindra & Mahindra is further looking to produce a passenger van which would be based on the very same platform. This passenger van will most probably be built soon so that it could hit the Indian roads by the end of this fiscal year. Currently the automobile manufacturing companies who are already plying in the MPV market are not leaving any stone unturned in their attempt to charm the MPV purchasing customers. Mahindra & Mahindra is amongst the current major players in the MPV segment of the Indian automobile market, with Toyota Kirloskar Motor, Tata Motors and Maruti Suzuki India following it closely. Maruti Suzuki Ertiga is the fresh entrant in this segment, which just came into the automobile market of India last week.

Mahindra Maxximo
While the joint venture of Nissan and Ashok Leyland is going to bring its Evalia by this year end, General Motors also looking to bring out its MPV Enjoy very soon in the Indian automobile market.  It seems this year is going to be of either compact cars or of the MPVs as the luxurious sedans are only for the rich and able, while these two earlier categories has huge volume of potential customers who are young and in need of a car which can accommodate the whole family.

Since the new MPV will have the platform of Maxximo, it is sure to be strong and stable like a truck, yet the transmission and power, once modified in accordance to the MPV requirement, should give a good mileage and excellent comfort. The chassis of Maxximo is built to take pressure of the cargo so it should easily distribute the weight of the passengers, which will give good manoeuvring ability to the new vehicle. Space couldn’t be a problem because this is going to be an MPV, meant for big families as well as for commuting passenger, if used commercially.

Mahindra changes Ssangyong’s fate after taking it under its wings

On March 2011, when Mahindra & Mahindra took over the Ssangyong Motor, the latter was running in immense loses. The products of Ssangyong were not appreciated at all and the banks also stopped giving any further credit to the company owing to the fact that there was a decision pending in the local court on whether the firm should be declared bankrupt or should be locked down and closed. After getting under the wings of Mahindra & Mahindra, a year later the whole scenario has changed for good.The Korean firm has revived and all geared up to return to propitiousness. The firm has made revenue of Rs 11,150 crore with its new compact usage vehicle Korando C, the increase in revenue here was 32 per cent. However, this profit did not last long as the losses of the firm escalated and went to Rs 450 crore in 2011 from Rs 107 crore in 2010. Now the alarming question was, can Mahindra & Mahindra pull this firm and put it back into credit from already debit kind of business?

With an aim to manufacture 1,23,000 units by the end of this year, Ssangyongintends to raise this volume by 3,00,000 units by the end of 2015. A 100-step program module has been introduced by Mr. Yoo II Lee to get the firm back on its feet once again like the old days. The previous ability of the firm to get to the customers with auxiliary has increased to 85 per cent from its earlier 50 per cent. The union has also given its word that they will not go on strike at all if the firm comply to the said terms.  These procedures should put the firm back into a benefitting status within next two to three years flat.

Mahindra changes Ssangyong’s fate after taking it under its wings

 

Mahindra & Mahindra made two important modifications as soon as it took over the Korean firm. At first it infused $200 million in equity to bring down the amenability of the company. Then on the second and next step, it came out with a new technological planning under a joint development venture under which they would be creating three types of car platforms, which will be used to manufacture different variants to ensemble the markets of either company. This will be something, which is going to be very economical and brings out the best in both the companies.

The XIV concept by the firm is targeted at the small usage car segment is going to be the first product of this joint platform development venture to come out within three years from now.At the very same time, Mahindra &Mahindra, will announce the upcoming joint platforms to come in the near future. In the meanwhile, both the Sports Utility Vehicle majors are contemplating on developing new types of engines, which will be coming in different displacements with both petrol and diesel fuel options. The firms are working really hard on the projects of developing transmission systems as well. The electric car manufacturer Reva is the third partner of Mahindra & Mahindra in the joint development planning and these three firms intend to develop a formidable platform for electric vehicles. All these research and development work will be carried out at the Mahindra & Mahindra’s R & D centre of Oragadam in Chennai.  After coming under the wings of Mahindra & Mahindra, Ssangyong has again made an entry into the Chinese automobile market while its sales have gone up in good volume in the automobile market of Russia. The Korean firm is also in the process of setting up the factory in the BRIC nations with its first vehicle to be launched somewhere around Diwali this year.

A vehicle by Ssangyong on the Indian roads sound very goodas Asian technology has always been very well appreciated by the Indian customers. With a back up of Mahindra & Mahindra, with its R&D and widely available resources, the Korean auto company is sure to gain its lost position in the automobile industry as well as get itself into the top club of automobile firms across the world. The increasing number of wealthy Indians would be very keen on trying out the SUV of Ssangyong as it seems to deliver what the consumer demands and require.