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BNP Paribas analyst Kumar Rakesh asserts that Tesla poses no threat to Mahindra in India, citing high pricing and lack of local manufacturing as barriers. He predicts Mahindra will lead growth in the automotive sector by 2025-26, driven by successful model launches and a strong farm equipment business. Meanwhile, the two-wheeler market struggles with financing issues, impacting lending and growth.
Luxury car manufacturers BMW India and Audi will increase prices by up to 3% starting January 1, 2025, due to rising input and transportation costs. Other automakers, including Maruti Suzuki, Hyundai, and Mahindra, are also implementing price hikes ranging from 1-4% across their model ranges to offset increased operational expenses.
Mahindra has launched two new electric SUVs, the BE 6E and XEV 9E, priced at Rs 18.9 lakh and Rs 21.9 lakh, respectively, featuring battery packs of 59 kWh and 79 kWh with a claimed range of over 500 km. The company aims for 30% of its Passenger Vehicle sales to come from electric models by 2027, positioning itself against Tata Motors, which currently holds a 65% market share in India's EV sector. Tata's sales have been affected by the expiration of certain subsidies, despite strong consumer interest in its diverse EV lineup.
Mahindra and Mahindra has unveiled its new BEVs, the BE 6e and XEV 9e, featuring 59kWh and 79kWh batteries, offering ranges of approximately 535-542km and 656-682km, respectively. Both models include premium features and will begin bookings in January 2025, with retail expected by February/March 2025. The company maintains a 'BUY' rating with a target price of Rs 3,456, reflecting strong growth potential in its EV business and subsidiaries.
Emkay Global Financial has set a target price of Rs 2700 for Mahindra and Mahindra, maintaining a REDUCE rating. The recent launch of the BE 6e and XEV 9e EV SUVs showcases strong features and competitive pricing, yet the overall E-PV market is struggling with slow demand due to concerns over charging infrastructure and resale value. Despite a projected 9% core EPS CAGR from FY24-27, the firm believes the peak of the SUV launch cycle has passed, with M&M trading at a higher core PER compared to competitors.
Mahindra and Mahindra (M&M) shares surged 3% to Rs 3,070 following the launch of its 'Born Electric' SUVs, the XEV 9e and BE 6e, which are set for delivery in the final quarter of the financial year. The BE 6e is priced at Rs 18.90 lakh, while the XEV 9e starts at Rs 21.90 lakh. Morgan Stanley has issued an 'overweight' rating with a target price of Rs 3,336, indicating a potential upside of 12% from the last close of Rs 2,985.
Mahindra and Mahindra unveiled its first 'Born Electric' e-SUVs, the XEV 9e and BE 6e, on November 26, marking a significant step in its electric mobility journey. Both models are built on the new 'INGLO' platform, which enhances interior space and features the lightest flat-floor design for electric vehicles. Deliveries are expected to begin in the final quarter of the financial year, with prices starting at Rs 18.90 lakh for the BE 6e and Rs 21.90 lakh for the XEV 9e.
Mahindra and Mahindra (M&M) shares rose 4% to Rs 2,959 after CLSA maintained an "outperform" rating with a target price of Rs 3,440, indicating a 16% upside. Analysts expect growth to focus on mid and premium SUVs, supported by a strong pipeline of new model launches and shifting consumer preferences. M&M also reported an 18% YoY growth in passenger vehicle volumes in Q2 FY24, outperforming competitors, while the tractor segment is projected to enter a growth cycle with significant volume and EPS increases through FY27.
Mahindra and Mahindra is set to report its Q2 earnings on November 7, with expectations of an 11.6% year-on-year revenue increase to Rs 27,144 crore, driven by strong sales in the farm segment and new SUVs. However, net profit is projected to remain flat at Rs 3,452 crore due to higher advertising costs and lower operating leverage.
Mahindra and Mahindra is in advanced discussions to acquire a 50% stake in Škoda Auto's India operations, with a deal expected in a few weeks. The German automaker is valued at $1 billion for this stake sale, which may involve a combination of shares and cash. This partnership aims to enhance manufacturing capabilities and add value to M&M's passenger vehicle segment.
Mahindra AND Mahindra Ltd.
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