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Mahindra & Mahindra has stated that any claims regarding penalties related to emissions are "factually incorrect." The company clarified that no penalties have been levied or are being considered, addressing concerns raised in recent discussions.
M&M, Hyundai, and Kia are among eight car manufacturers facing penalties totaling up to Rs 7,300 crore for failing to meet emission standards. Hyundai faces the largest penalty of over Rs 2,800 crore, while Mahindra and Kia could incur penalties of nearly Rs 1,800 crore and over Rs 1,300 crore, respectively. The Bureau of Energy Efficiency's stricter norms, effective from January 2023, require significant reductions in fuel consumption and carbon dioxide emissions, but car makers argue they should not be penalized for the entire fiscal year 2023.
Mahindra & Mahindra has announced a Rs 4,500 crore investment for the development of two new electric vehicle brands, the BE 6e and XEV 9e. This funding is part of a larger Rs 16,000 crore capital expenditure plan for the electric vehicle sector from FY22 to FY27. The company is establishing a production capacity of 90,000 units per annum at its Chakan plant.
Mahindra has unveiled the 'INGLO' platform, designed for its upcoming electric SUVs, emphasizing an intuitive and immersive experience with advanced safety features. Set to launch next week, the platform boasts high-density battery options of 59 kWh and 79 kWh, enabling fast charging from 20-80% in just 20 minutes. The architecture supports two new electric brands, XEV and BE, promising enhanced cabin space and superior driving dynamics.
In October, mutual funds (MFs) made net purchases exceeding Rs 92,000 crore in local equities, focusing on top Nifty stocks, while foreign institutional investors (FIIs) sold over Rs 94,000 crore. Despite a market correction with major indices dropping over 7%, MFs heavily invested in Mahindra & Mahindra, HDFC Bank, Axis Bank, ICICI Bank, and SBI, with Mahindra & Mahindra attracting Rs 6,840 crore despite a 12% decline in its stock price. HDFC Bank saw inflows of Rs 5,756 crore, while Axis Bank and ICICI Bank received Rs 4,115 crore and Rs 3,897 crore, respectively.
Mahindra & Mahindra has solidified its reputation for safety with three of its SUVs—Thar ROXX, XUV 3XO, and XUV400—achieving 5-star ratings under Bharat NCAP. Notably, the Thar ROXX is the first body-on-frame SUV to earn this distinction, scoring 31.09/32 in adult occupant protection and 45/49 in child occupant protection.
The global automotive market, valued at $2800 billion in 2021, is projected to grow at a CAGR of 5.0% from 2022 to 2030, driven by rising disposable incomes, technological advancements, and increasing demand for electric and autonomous vehicles. The Asia-Pacific region is expected to lead this growth, supported by government investments and incentives for electric vehicle adoption. Major players include General Motors, Maruti Suzuki, and Volkswagen, with ongoing mergers and innovations shaping the industry landscape.
Benchmark indices Nifty and Sensex continued their decline on November 13, marking five consecutive days of losses amid investor concerns over inflation, high valuations, and disappointing Q2 results. The Sensex fell by 496.54 points (0.63%) to 78,178.64, while the Nifty dropped 181.50 points (0.76%) to 23,702.00, with a significant sell-off across all sectors. Mid- and small-cap indices also slid, reflecting market fatigue, as the volatility index India VIX rose over 5%.
Several popular SUV models, including Hyundai's Creta, Mahindra's Thar and XUV3XO, Maruti's Ertiga, and Toyota's Hycross, are experiencing high demand, leading to zero discounts from dealers. This trend reflects a significant imbalance between production and demand, with SUVs accounting for 66% of total passenger vehicle sales in Q2 FY25.
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