Mahindra & Mahindra: The Story Of “Rise”

[visran]

Re: Mahindra – The Story of “Rise”.

Judge gives dealers' fraud suit against Mahindra the go-ahead

Automotive News is reporting that a US District Court has ruled that a lawsuit by five dealers against Mahindra & Mahindra can move ahead. The Indian automaker had moved to have the case dismissed, but District Judge Thomas Thrash in Atlanta said the plaintiffs presented enough evidence for "a reasonable person to infer that Mahindra USA was involved in a plan to deceive the dealers." The group alleges that they were defrauded by the manufacturer when Mahindra said it planned to create a new brand of light trucks in the US. It's the latest in a long line of misfortunes for the automaker in the US market.

Mahindra spent some four years working with Global Vehicles USA, a private US distributor just outside of Atlanta. At one point, Global Vehicles boasted a dealer network of some 350 retailers ready to sell small, Indian-made diesel pickups in the States. Mahindra promised more products would follow after the utilitarian four-wheel drives, but a spate of delays quickly derailed that plan. The distribution deal wound up dead by 2010, leaving many dealers with empty showrooms and pockets. While a US District Court in Missouri dismissed one case against Mahindra on the grounds that the distribution deal was with Global Vehicles and not the Indian automaker, the current suit seems ready to move forward.

Judge gives dealers' fraud suit against Mahindra the go-ahead

This indeed is a very bad news for Mahindra, their US project is really jinxed hope they leave Ssangyong to take a plunge in the US market

 

[visran]

Re: Mahindra – The Story of “Rise”.

M&M resorts to plant shut down to clear tractors' inventory

Auto major Mahindra & Mahindra today said it will shut down its tractor plants at Jaipur and Rudrapur for five days and two days, respectively, next week due to inventory pile up amidst falling sales.

In a filing to the BSE, the Mumbai-based firm said that "as part of aligning its production with sales requirements" the company will be observing "no production days" at its tractor plants at Jaipur for five days and Rudrapur for two days.

The planned shut down will take place between March 24 and March 31, it added.

"The management does not envisage any adverse impact on availability of tractors in the market due to adequacy of tractor stocks to serve the market requirements," Mahindra & Mahindra (M&M) said.

M&M had reported 2.97 per cent decline in its total tractor sales in February this year at 14,861 units compared to 15,316 tractors in the same month of last year.

Domestic tractor sales of the company had fallen by 2.77 per cent during the month at 13,944 units as against 14,341 units in February 2012. Exports last month stood at 917 units compared to 975 units in same month previous year, down 5.95 per cent.

Shares of M&M today closed 3.45 per cent down at Rs 881.35 apiece on BSE.

MSI had reported 7.89 per cent decline in its total sales at 1,09,567 units in February 2013. It had sold 1,18,949 units in the corresponding month last year.

M&M resorts to plant shut down to clear tractors' inventory - The Economic Times

 

[manojodungat]

Automotive’s new auto showroom in Vizag

Automotive Manufacturers, the dealer of Mahindra, opened a new auto showroom at Maddilapalem here on Wednesday in addition to the existing one, the seventh in the State.

Automotive

Equally, it would not be the first time a company with a heritage manufacturing tractors moved into upmarket carmaking, and eventually luxury SUVs – given that one-time agricultural vehicle maker Porsche followed exactly this path.

Into the fast lane - FT.com

 

[visran]

Re: Mahindra – The Story of “Rise”.

M&M replaces Ashok Leyland as No. 2 commercial vehicle maker

The commercial vehicle industry has seen a realignment in the past 12 months due to a sharp drop in sales in the medium and heavy truck range and a smart uptick in the pick-up range in both load and passenger carriers. As a result, M&M has replaced Ashok Leyland as the second largest commercial vehicle company after Tata Motors. Since the medium and heavy trucks are dependent on the economic climate for their sales growth, the industry isn't expecting any miracles right away. Yet both M&M and Ashok Leyland are investing in their heavies range even as large fleet operators go slow on expansion due to a significant inventory pile-up during the slowdown months.

Consider the stats. M&M's April-February tally (including Navistar range as well as Maxximo, Gio, Genio and Bolero pick-up) stands at 1,67,588 units as per SIAM data. ALL's April-February sales, including the Dost LCV, stand at 1,00,592 units. Both do not include exports. Understandably, ALL says it's still the number two player in medium and heavy commercial vehicles. "Ashok Leyland is still the second largest with a market share of 26.1%" in that segment," said the company spokesman. ALL does not include Dost - which comprises 30,592 units in the April-February period - in its sales tally because it is a JV product. "Dost has already achieved leadership position in most markets where it operates," added the ALL spokesman.

India's medium and heavy commercial vehicle range has seen a sharp drop in the current fiscal. Total CV sales dropped 22% in the April-February period with the 25.2-31.2 tonne multi-axle vehicle and 30-49 tonner multi-axle trailers showing the highest drop in sales. Sales in those two segments fell around 27% each. In February alone, the 30-49 tonner segment saw sales slump 42.2% while the MAV segment was down over 38%.

Yet both M&M, which has managed to get into the CV big league thanks to its pick-up numbers, as well Ashok Leyland are betting big on the M&HCV range. "M&M is now present in virtually all segments of commercial vehicles, which includes three-wheelers, small CVs, pick ups, LCV and HCV," said Pawan Goenka, president, auto & FES division, M&M. "We have plans to continue to launch new products or major product refreshes in all segments. The slowdown in the medium and heavy commercial segment is temporary we feel and if anything our focus on medium and heavy commercial vehicle will get stronger. We will focus on growing our presence in all key markets in this segment," he added.

Ditto for ALL, which says its focus, going forward, "will be on expanding and enhancing the M&HCV range while, at the same time, work with JV partner, Nissan Motor Company, to enhance the LCV portfolio," said the company spokesman. "The pace of new product investment has been accelerated to help customers maintain or improve profitability, as they deal with rising fuel costs."

Yet no one in the CV business expects things to improve any time soon. "The CV Market is very much linked to the GDP," said the ALL spokesman. "The entire CV industry hopes for some government-initiated stimuli to give the economy a badly needed fillip and thereby improve overall sentiments," he added. Currently, the CV industry is facing a glut in the market with inventory pile up and high discounts. "Several commercial vehicle manufacturers have pushed their inventories to their dealers by increasing the vehicle stocks significantly," said SP Singh, senior fellow, Indian Foundation of Transport Research & Training. As a result, new truck sales have shown negative growth for more than six months in a row.

M&M replaces Ashok Leyland as No. 2 commercial vehicle maker - The Economic Times

 

[Gurrala74]

Re: Mahindra – The Story of “Rise”.

FT and ArcelorMittal Recognise Business Innovators of 2013

Mahindra and Mahindra received Boldness in Business award in Emerging Markets

Read the full text here FT and ArcelorMittal Recognise Business Innovators of 2013 | About us | FT.com

 

[manojodungat]

Mahindra XUV5OO launched in Nepal !

Agni launches Mahindra XUV 500

KATHMANDU, March 25:
Agni Incorporated has launched Mahindra´s new global sport utility vehicle XUV 500 in the Nepali market. On the occasion, the company also inaugurated its new showroom and service center operated by Balazu Auto Works.
Three models of XUV 500-W6 2WD, W8 2WD and W8 AWD (all wheel drive) - are available in the market.

The car is available in seven different colors like Satin White, Tuscan Red, Opulent Purple, Neptune Blue, Moondust Silver, Volcano Black and Dolphin Grey.
The company has fixed the ex-showroom price for Kathmandu at Rs 5.3 million (W6 2WD), Rs 5.85 million (W8 2WD) and Rs 6.15 million for (W8 AWD)

1.00 INR = approximately 1.59612 NPR

read more here:

 

[visran]

Re: Mahindra – The Story of “Rise”.

Mahindra India dealer network expands from Kargil and Port Blair

Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, recently expanded its dealership and service network across the country. With a network reaching 70% of the districts in India, vehicles from the Mahindra stable can now be serviced even in the remotest areas of Kargil, Port Blair, Reckong Peo in Himachal Pradesh, Barmer and Jaisalmer.

Being by far the only automotive company to expand its reach in the remotest areas of India including Kargil and Port Blair, with the latter having 15 mechanical bases and 8 accidental bases. Today Mahindra has service facilities across the length and breadth of the country.

Further, the recently added dealerships in Jaisalmer as well as Barmer are 3S dealerships, well-equipped to handle enquiries for sales, service and spares requirements of customers for both the personal and commercial range of Mahindra vehicles. With a focus on customer satisfaction and customer delight, these dealerships have a showroom display area of 3,000 sq. ft. and boast of a separate customer lounge for families and drivers. The 3S dealerships have a dedicated sales team for the personal and commercial range of vehicles. In order to facilitate speedier resolution of customer service requirements, the workshop facility comprises of 14 and 16 service bays with a peak service capacity of 28 and 32 vehicles at Jaisalmer and Barmer respectively. In February 2013 a service station of 5 bays was also inaugurated in Reckong Peo in Himachal Pradesh, which can service the wide range of Mahindra vehicles.

Speaking about Mahindra’s network reach across the country, Arun Malhotra, Chief Sales & Customer Care Officer, Automotive Division, Mahindra & Mahindra Ltd said, “Being a customer centric company it has always been our endeavour to provide utmost convenience to our customers and offer them best in class sales and service facilities. Hence we have further expanded our network to even the remotest locations of India. The addition of these well-equipped dealerships with world class infrastructure and service facilities will ensure that we are able to provide last mile sales and service connectivity to our customers. Today we have increased our proximity to the consumers and have assured them of high quality service when they purchase a Mahindra vehicle.”

The dealerships are strategically located to provide optimum convenience not only to local Mahindra customers but also to the personal, commercial vehicles, tourist vehicles and taxi operators plying on the highways in these areas. The new dealership at Jaisalmer is located on the Jodhpur – Barmer Bypass Road and can serve all towns and villages within a radius of 120 km of Jaisalmer.

The Mahindra dealership at Barmer located on National Highway No. 15 will serve towns and villages in a 120 km radius of Barmer. Mahindra has an expansive reach of 300 dealerships with 614 touch points across 240 cities and a total of 1,300 up-country outlets in 900 towns/semi-urban and rural areas across the country.

 

[visran]

Mahindra's Engine plant shut

Mahindra's engine plant workers continue agitation at Igatpuri

The 'tools down' agitation by workers of Mahindra and Mahindra's engine facility at Igatpuri near here entered the eighth day today, with both management and union refusing to budge from their stand, sources said.

The company has already suffered a production loss of around 5,000 units due to the ongoing agitation.
"We had a meeting with the management and the deputy labour commissioner yesterday, but it did not yield any result. We are firm on our demand that the two suspended workers be immediately taken back," Igatpuri engine facility union sources told PTI here.

The management, on its part, has put a condition that the suspended workers will be reinstated only after the agitation is called-off and work at the plant resumes, sources said.

Around 1,600 employees, including contract workers, are on 'tools down' protest since last Tuesday against the suspension of their leader Sunil Yadav, president of Bharatiya Kamgar Sangh, affiliated to Shiv Sena, over a fight between two workers earlier this week.

The union is demanding reinstatement of the leader.

"As the plant is completely shut since last Tuesday morning, the company has already taken a hit of around 5,000 engines," sources said.

Mahindras engine plant workers continue agitation at Igatpuri - NDTVProfit.com

I guess this will strongly impact Mahindra's sales figure for this quarter

 

[visran]

Re: Mahindra – The Story of “Rise”.

Mahindra Pick up sales figure crosses 1 lakh mark

Mahindra announced that its pick up vehicle range crossed the 1 lakh mark in domestic sales during FY-2013. The company managed to sell 1,02,885 vehicles in FY-2013 as compared to 73,134 vehicles in FY-2012, which translates to an impressive 41 per cent growth. By clocking these sales numbers it has achieved its highest sales figure since the company’s inception.

Speaking on this achievement, Pravin Shah, Chief Executive - Automotive Sector, Mahindra & Mahindra Ltd. said, “Crossing the 1 lakh milestone of Pick ups in a financial year is a proud moment for us and we are thankful to the customers for patronizing the Mahindra Pick up brand. Today Mahindra has the widest range in this segment to cater to the varied needs of cargo transportation. Having set new benchmarks in style, comfort, convenience and technology, our brands in the Pick up segment are popular since they offer enormous value to the customers.”

Mahindra has 54 per cent market share in FY-2013 and has constantly registered sales of over 15,000 units on a monthly basis. It has also been a pioneer in this segment by introducing many industry firsts like, first AC Pick up, CNG Pick up and the first Micro Hybrid Pick. The Mahindra pick up portfolio chiefly consist of four brands which are, Bolero Maxi Truck, Bolero Pick Up, Bolero Camper & Genio and boasts the widest portfolio in Pick ups to cater to various needs of cargo transportation in our country.

Mahindra Pick up sales figure crosses 1 lakh mark| ZigWheels.com

 

[visran]

Re: Mahindra – The Story of “Rise”.

M&M reclaims second spot from Bajaj Auto

Riding high on continued demand for its diesel-powered utility vehicles, Mumbai-based Mahindra and Mahindra Ltd (M&M) has dethroned Bajaj Auto Ltd to become the country's second most valuable auto maker.

M&M has beaten the slowdown during the first month this financial year, posting a growth of one per cent in sales against a drop of seven per cent by the rest of the industry.

Today, M&M extended its lead over Bajaj with a market capitalisation of Rs 59,243 crore against the latter's Rs 52,867 crore, based on the closing price on BSE. Tata Motors remains the leader with a market capitalisation of Rs 78,817 crore. M&M, the biggest manufacturer of utility vehicles in India, had lost the spot to Bajaj Auto in December last year on the back of an industry-beating 20 per cent operating margin posted consistently by the latter.

However, continued upswing in M&M's stock saw it go past Bajaj Auto's market capitalisation on April 29 on BSE. Meanwhile two-wheeler sales of Pune-based Bajaj Auto has been under strain since the past few months, with sales falling nearly 12 per cent in March and April. The Rajiv Bajaj-led company is the second largest manufacturer of two-wheelers in the country and the largest three-wheeler maker.

Analysts attribute M&M's strong stock performance, having risen more than eight per cent in the last four trading sessions, to healthy growth in tractor sales in April, coupled with continued uptick in sales of the Bolero.

On the other hand, increased competitive pressures from Honda Motorcycle and Scooter India and the total absence in the scooter segment has hurt Bajaj Auto, with a 'sell' recommendation on its stock from some brokerage houses. The Bajaj Auto stock has fallen 3.68 per cent in the last four trading sessions.

"The incumbent players in India's two-wheeler market currently face two key issues. First, domestic demand has decelerated significantly, with growth in FY13 slipping to only two per cent. Second, Honda's stated aggressive capacity expansion plans to 4 million units from 2.8 million imply limited growth for the incumbents," said Sahil Kedia, an analyst at Barclays.

"Given the increased competition, we forecast further market share loss for the incumbent players and believe the risk of increased price discounts or subvention schemes is high," Kedia added.

Bajaj Auto lost market share in March in the motorcycle segment to 23.27 per cent against 24.73 per cent in the corresponding month the previous year. Honda's share grew substantially to 14.2 per cent during the same month from 8.78 per cent a year ago.

However, analysts also point out that tractor sales during the current year will come under pressure with a lot depending on the monsoon. About a third of M&M's revenues come from the farm equipment sector. In addition, the finance ministry's reluctance to withdraw the sports utility vehicle (SUV) tax imposed during the Budget will take its toll on SUV demand during the year, impacting M&M.

Bajaj Auto has lined up a few launches in the coming months, including an economy segment bike based on the Discover 100 platform and new Pulsar models. Further, international plans for the two-wheeler company will include addition of new markets such as in Africa and Latin America.

M&M reclaims second spot from Bajaj Auto

 

[Vishwas]

Re: Mahindra – The Story of “Rise”.

Think Mahindra is currently partying behind the scenes.

 

[visran]

Re: Mahindra – The Story of “Rise”.

Mahindra to launch 6 new tractor models

Domestic auto major Mahindra plans to launch six new tractor models including one from an all new platform, M Star in the current fiscal.

"We will roll out six new tractors this fiscal of which one from a totally new platform, on which we are working on for the two-and-a-half years. The remaining five products will be the variant of the existing models," Mahindra & Mahindra Chief Executive for Tractor and Farm Mechanisation Rajesh Jejurikar said here.

Jejurikar, however, did not disclose the investment on the new products but added that, "a new platform generally envisage an investment of around Rs 350 crore".

Last week, company's automotive and farm equipment division head Pawan Goenka had said that M&M planned to invest Rs 10,000 crore over 2013-15, including a capex of Rs 7,500 crore for capacity expansion and new product launches and Rs 2,500 crore as investment in group firms.

The company's domestic sales of tractors grew 24.70 per cent, standing at 22,471 units during May 2013, as compared to 18,019 units in corresponding period previous year.

"In April, we gained about 0.6 per cent market share compared to year ago. While the industry numbers are yet to be out for May, we do expect some gains in May also," he said.

The company's market share in April stood at 40.3 per cent, he said.

"Much of this growth has come from northern states such as Rajasthan, MP, Punjab and Haryana among others. West and down south has seen d-growth, which has, however, come down compared to last year," he said adding with the onset of monsoon, these states are moving towards positive growth zone.

Incidentally, the company today reported a 24.24 per cent increase in its tractor sales to 23,626 units in May 2013, as compared to 19,016 units a year-ago.

Mahindra to launch 6 new tractor models - The Economic Times

 

[350Z]

Re: Mahindra – The Story of “Rise”.

Mr.Anand Mahindra has announced a donation of Rs.1 crores to Uttrakhand Flood Relief. An official statement from him:

We are shocked and grieved to learn of the unprecedented calamity and havoc created in Uttarakhand in the wake of the recent flash floods. This unprecedented human tragedy in the Devbhoomi calls for a quick response in terms of relief for the stranded pilgrims and the unfortunate residents of the affected areas. This is a token donation from our company in response to the appeal by the state government.

Drive Safe,
350Z

 

[visran]

That's a good gesture, hope other companies too come forward and support this cause.

 

[350Z]

Re: Mahindra & Mahindra – The Story of “Rise”.

Mahindra is halting the production for eight days due to the sluggish sales. An excerpt from The Economic Times:

Auto major Mahindra & Mahindra today said it will stop production at its automotive plants for up to eight days this month to cut output in the wake of low demand in the market.

"The company as part of aligning its production with sales requirements, would be observing 'no production days' at its automotive plants for a period ranging from 1 to 8 days during the remaining period of July, 2013," Mahindra & Mahindra said in a filing to the BSE.

The company further said that one of its wholly-owned subsidiaries -- Mahindra Vehicle Manufacturers Ltd -- would also be observing 'no production days' for about eight days during the remaining period of July, 2013 at its plant situated at Chakan. "The management does not envisage any adverse impact on availability of vehicles in the market due to adequacy of vehicle stocks to serve the market requirements," the company said.

Apart from the Chakan unit, the company manufactures its automobiles at plants including Nashik and Haridwar. In June this year, domestic sales of M&M, which is the largest utility vehicle maker in the country, stood at 36,207 units as against 38,951 units in the same month last year, down 7.04 per cent.

The increase in excise duty on sports utility vehicles to 30 per cent from earlier 27 per cent in this year's budget has resulted in increased prices of M&M's best selling models including XUV500, Scorpio, Xylo and Bolero, which has hurt its sales. Shares of Mahindra were trading at Rs 925.40 on the BSE in afternoon trade, up 1.48 per cent from their previous close.

Drive Safe,
350Z