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In an interview to CNBC-TV18, the company‘s Executive Director Pawan Goenka said that M&M has initiated an internal study on two-wheeler business and a concrete decision will be released in next 6-8 weeks.
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Overdrive checks out what is new in the Mercedes Benz AMG SLC 43 after its latest makeover and the automatic variants of the latest 7-seater vehicles, XUV 500 and the Toyota Innova Crysta.
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The company had sold 39,930 units in January 2015, M&M said in a statement. In the domestic market, its sales were up 9.84 percent at 40,693 units last month as against 37,045 units in January 2015.
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Mihir Jhaveri, Religare Capital Markets does not expect any immediate earnings impact, as only about 2 percent of the company‘s sales is in the Delhi market.
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“All our strong brands like XUV 500, Scorpio continues to perform much better at the market place and that is what is reflected in retail number on a single day sale of 11,500 numbers,†says Pravin Shah, Pres & Chief Exec-Automotive.
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In the domestic market, sales were up by 21 percent to 48,815 units last month as against 40,278 units in October 2014.
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Exports were up 10 percent at 3,115 units from 2,828 units in the same period a year earlier. Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito stood at 18,103 units compared with 19,308 units in February 2014, down 6 percent.
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However, exports were up 10 percent at 3,115 units from 2,828 units in the same period a year earlier. Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito stood at 18,103 units compared with 19,308 units in February 2014, down 6 percent.
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It had sold 39,611 units in the same month previous year, the company said in a statement.
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Mahindra & Mahindra (M&M) had sold 37,897 units in the same month last year, the company said in a statement.
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Automobile major Mahindra and Mahindra plans to launch a scaled down and cheaper version of its premium sports utility vehicle (SUV) XUV500 by festive season, sources informed CNBC-TV18.
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Work at auto-major Mahindra & Mahindra's engine manufacturing facility at Igatpuri near Nashik, which has been stalled for the last 13 days following the "tools down" agitation by workers, is likely to resume from tomorrow with the management agreeing to reinstate two suspended employees, a union leader said.
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The automobile major Mahindra & Mahindra has been forced to recall nearly 30,000 sport utility vehicle (SUV) XUV 500.
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Shares in Maruti Suzuki and Mahindra & Mahindra gain on hopes for rising sales this month as part of the festival season.
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As the industry fights a prolonged lull in the automobile market, component makers and OEMs came under one roof today at the ACMA Annual Conference in an effort to forge a close partnership to tide over the storm.
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Mahindra & Mahindra shares rose over 3% for the second straight session after the street cheered the utility vehicle maker's much better-than-expected first quarter results and several analysts maintained their "buy" or equivalent rating on the stock.
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Utility vehicle maker Mahindra & Mahindra's total automobile sales in May rose 28% year-on-year to 43,988 units, helped by strong growth in its sports utility vehicles and four-wheeler commercial vehicles.
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Last year was rather forgetable for automakers in India, especially the passenger car makers, as demand slumped amid expensive loans and a sharp rise in petrol prices. Mahindra & Mahindra's auto division, however, bucked the trend.
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The last month of fiscal 2012 saw car sales report a smart bounce back after flat growth in the previous 11 months. The two-wheeler sales story was however a mixed bag, reports CNBC-TV18's Ronojoy Banerjee.
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In an interview to CNBC-TV18, Hitesh Goel of Kotak Institutional Equities analyses auto stock names like Tata Motors and M&M.
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Vivek Nayer, senior vice president -marketing, automotive division at M&M spoke to CNBC-TV18 about sales numbers for the company and the expectations of dealers and customers.
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Speaking to CNBC-TV18, Arun Malhotra, senior vice president-sales & customer care- automotive division at M&M says that the company expects further growth in the utility vehicle segment. “M&M is trying to ramp up production of the latest on the block- the XUV 500,” he says.
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Monthly auto sales numbers have started trickling in. M&M's November total auto sales came in slightly lower at 40,722 units versus 41,506 units (MoM), but were much better than expectations. Arun Malhotra, Senior Vice President of sales and customer care (Automotive Division) indicated that the auto sales saw a growth of 53% on a yearly basis.
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The XUV 500 projected by Mahindra as its first global SUV has been launched at a very competitive price of Rs 10.8 lakh, reports CNBC-TV18's Swati Khandelwal Jain gets behind the wheels.
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