Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
Mahindra & Mahindra (M&M) on Monday said its loss-making South Korean arm SsangYong Motor Company (SYMC) has filed for bankruptcy. The SYMC has filed an application for commencement of rehabilitation procedure with the Seoul Bankruptcy Court under the Debtor Rehabilitation and Bankruptcy Act of South Korea, M&M said in a regulatory filing. The troubled automaker has also applied for an autonomous restructuring support (ARS) programme which is a court designed process, it added.
M&M, which owns a 75 per cent stake in SYMC, rescued the sport-utility vehicle (SUV) maker from near-insolvency in 2010 but has struggled to revive its fortunes.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
M&M will close down GenZe, an e-scooter business in California, because it is unlikely it would stand on its own feet, and is ahead of its time.
How the XUV300's suspension, plastics and interiors hold out in Indian conditions after a couple of years will be the litmus test for its success in the long term, but for now, this SUV delivers, says Pavan Lall.
Mahindra is desperate for a best-seller in the compact SUV space, on which it missed the bus
The XUV300, Mahindra's second compact SUV, is so packed with segment-firsts that it is sure to send shockwaves among competitors.
The auto major is eyeing 20 per cent of the compact SUV market with the petrol and diesel variants of the XUV300, reports Shally Seth Mohile.
Pawan Goenka, tells Shally Seth Mohile the Alturas, by far the most-expensive model wearing an Indian badge.
Some of the notable models set to make a debut next year include the Tata Harrier, the Mahindra S201, the Kia SP Concept, MG Motors' Boujun 530, and the Honda HR-V.
Whether it is protecting its turf in its core utility vehicle segment through new model launches, or stepping up investment in electric vehicles, the Anand Mahindra-led firm is leaving nothing to chance
M&M also showcased its new format next generation 'dealership of future' designed by Pininfarina.
Maruti is now at a market share of 50.4%, up from 47.3% last year. In China, the world's biggest market, Volkswagen is the largest, with a share of 17%. In America, the second biggest, GM is leader with 18%. One exception is South Korea, where Hyundai has a market share in excess of 60%.
Tivoli has turned out to be the best-selling vehicle from SsangYong in its 62-year history, Ajay Modi reports from New Delhi.
Industrialist Pawan Ruia's (think Dunlop and Jessop) arrest this month for cheating and criminal breach of trust marked a new low, but the tide had been turning against him for a while now. Ishita Ayan Dutt & Avishek Rakshit report.
Audi India launched the second generation 2016 Audi R8 at the show.
Maruti Suzuki, Hyundai and M&M draw visitors with a range of concept cars.
Stylish SUV Tivoli is all set to take on competition from Hyundai Creta and Renault Duster.
Apart from a pavilion of vintage cars, there will be a Bollywood corner
A record number of 85 products will be launched.
Mahindra & Mahindra gets the biggest impact of the Supreme Court's ban on sale of vehicles in Delhi with diesel engines bigger than 2,000cc.
TUV300 will take on the likes of Ford EcoSport and Renault Duster that are priced between Rs 7.88 lakh and Rs 13.54 lakh.
The XUV100 will be launched in trendy colours like yellow and orange
The Sensex ended up 244 points at 28,504 on strong global cues.
Mahindra & Mahindra is in talks to buy a majority stake in Pininfarina.
Make in India can be a success if teh govt focusses more on technology, says Pawan Geonka.
New projects will boost investment in India, says Anand Mahindra.
Ssanyong has invested 700 billion won since its M&A (with Mahindra) and would put one trillion won ($920 million) in next three years.
What does one do when one day, out of the blue, one is told to go on a road trip to the Everest Base Camp?
On Reva, Mahindra says electric cars are an innovation that can disrupt the automobile sector.
Car makers are cautiously optimistic, even as two-wheeler firms are clearly upbeat.
No Indian auto brand (including Tata or Mahindra) is well-known globally.
When it comes to price versus the features, Mahindra's beast is a clear winner.
The new model RX6 will be an addition to the existing model range of Rexton which has received a very good response in India.
M&M is working on petrol engine while Tata is set to introduce petrol option in Bolt and Zest.
With its Storm Edge design language, the new Santa Fe replaces the older model and competes with the likes of the Toyota Fortuner, Ford Endeavour, Ssangyong Rexton and Chevrolet Captiva.
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Top firms will have enough firepower to go for foreign M&As, given their balance sheet growth, say bankers.
Sales have started picking up and the company has cut down losses. It's now looking to expand in other markets.
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