The Mumbai-based company is in talks with the government seeking approval to make drones a part of farming methods, says Pawan Goenka, managing director, M&M
Here is the list of all the important developments of the week from the automotive world
Ashwani Gujral of ashwanigujral.com suggests buying Mahindra & Mahindra Financial Services, Reliance Capital and Oberoi Realty.
Auto major Mahindra Group is betting big on the ride sharing space. The group's chairman, Anand Mahindra has told CNBC-TV18 that he is exploring various options to expand the group's footprint in the ride sharing space. CNBC-TV18's Ron gave us all the highlights from his interaction with Anand Mahindra.
A loss of Rs 692 crore posted in 2016-17 by the two-wheeler division, which got merged into M&M last year, was the biggest loss-making division out of the 164 subsidiary and associate companies that M&M has.
The joint move towards electric buses comes shortly after the government is seen laying down greater emphasis on moving to electric vehicles including public transport such as buses
Here is a look at the key developments in the automotive space that happened this week
Mahindra group-owned automotive design firm Pininfarina today announced a 70 million euros pact with Iran's first automaker Iran Khodro (IKCO) for vehicle development.
The Center is pushing for electric vehicles aggressively highlighting the need to reduce dependence on traditional petrol, diesel and CNG-fired engines.
It recently won the order to supply Mine Protected Vehicles (MPV) in the face of strong competition from Tata Motors, one of India’s biggest defence suppliers.
As per sources, the government had committed to awarding the Rs 60,000 crore project for the FICV vehicles to two companies before March 31, 2017 even as there were expectations of an announcement as early as December 2016 itself.
At least two of the top three commercial vehicle players in India have said that they could look at upgrading the unsold stock to BS-IV standards and are examining its economic viability.
For passenger vehicles, at 30,43,201, the industry volume exhibited a rather impressive 9% growth, the highest in the past six years. The market leader Maruti’s overall domestic volume growth at 10.7% closely tracked the industry. However, a more segmental analysis suggests that the traditional ‘small car’ did not capture the buyers’ fancy any more – the segment in fact shrank in recent months. The ‘crown jewel’ for the company has been the ‘Compact SUV’ segment featuring Ertiga, S Cross and Brezza that grew by 107%.
Total inventory for M&M was worth around Rs 3,000 crore before the verdict and the company has been able to remove half of it at around a 15 percent discount, Pawan Goenka said.
Despite offering sky-high discounts during the last three days of March the commercial vehicle industry is saddled with stocks of 40,000-45,000 unsold BS-III trucks and buses.
SsangYong aims to develop electric vehicles (EV) jointly with M&M and launch them in 2019. Besides there is also the plan to enter the US market around the same time.
Parrikar's push for Made in India defence products saw tremendous response from global and domestic private companies.
"The process of better urbanisation has just began and it could be done with better planning and legislation on the back of good technology and public transportation." On the rapid urbanisation in India, he said the country would do more urbanisation in the next five years than it did in 5000 years.
German commercial vehicle heavyweight Daimler will make new investments while launching 100 products this year to take on the competition of Tata Motors and Ashok Leyland, who control 62 percent of the total domestic CV market.
"Since November, sales of three-wheelers had taken a beating. People were finding it difficult to arrange the cash required for down payment", Veejay Nakra, Sr VP (sales) of Mahindra said.
In this episode, Overdrive‘s Rohit Paradkar is doing a comparison test between Tata Hexa versus Mahindra XUV500 and Toyota Innova Crysta.
Growing disposable incomes, rising consumer aspirations and influx of new brands have fueled the demand for such premium bikes which usually carry an engine of more than 200cc, which is more than double the size of India‘s traditional fuel-efficient mass mover 100cc.
There was a holding back of any major buying by the people. Now that budget is out of the way people will get on with the business, said Goenka
New vehicle purchases nosedived in November and December after the government junked popular bank notes, while bookings and enquiries are understood to have fallen by half during the same period.