Index Investing News
Monday, May 26, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Mahindra to increase production of XUV3OO, XUV4OO, XUV7OO, Scorpio-N

by Index Investing News
November 12, 2022
in Financial
Reading Time: 2 mins read
A A
0
Home Financial
Share on FacebookShare on Twitter


Homegrown sports utility vehicle (SUV) maker Mahindra & Mahindra, on Friday, announced that it would be expanding production capacity for its offerings like XUV3OO, XUV4OO, XUV7OO and Scorpio-N to around 6 lakh units per annum by Q4 FY24. The automaker said the move is expected to reduce the massive waiting periods for its SUV offerings.

Mahindra, in its financial summary for Q2 FY23, said that this capacity expansion plan is to “cater to continued robust demand for new launches, clear existing bookings, reduce the waiting period for the new launches, export upside and gearing up for electric vehicles (EVs).”

Rajesh Jejurikar, Executive Director of M&M, in a virtual press conference, said, “The company is in the process of enhancing production capacity of its sports utility vehicles over the next 12-15 months to reduce long waiting periods for some of the models like XUV700 and Scorpio-N.”

Mahindra also revealed that the production capacity of its SUVs like XUV300 and XUV400 will rise to 9,500 units, Thar will increase to 6,000 units and Scorpio N will go up to 10,000 units every month. Currently, the automaker is struggling to cater to a massive order backlog which had reached up to 2.6 lakh units by October 2022.

Mahindra’s overall manufacturing capacity is expected to go up from 29,000 units in Q2 FY23 to 49,000 units by Q4 of FY24. The company also revealed that it had invested around Rs 7,900 crore between FY22 to FY24. Moreover, the company, for its electric vehicle portfolio, will also be creating a capacity of up to 17,000 units a month.

Jejurikar, regarding the electric vehicle production capacity, said, “By the year 2027 we expect 20-30 per cent of our SUV volumes to be electric. Some of the capacities will overlap with internal combustion engine (ICE). So, in a way we are preparing for somewhere between 12,000 to 17,000 units a month by 2027 for the electric portfolio.”

In terms of sales, Mahindra saw a 60.45 per cent growth at 32,298 units over last October. In September 2022, the company sold 32,298 units, 12,168 units less than the preceding month. This is also the carmaker’s second-best monthly sales this fiscal.

“In SUVs, we continue to be the revenue market share leader. Festive sales have been strong this year across auto and farm sectors,” Jejurikar added. On the company’s plans regarding the transition to the next stage of emission norms which will kick in from April next year, Jejurikar said “M&M would initiate the process in January-February next year and complete the task in March.”

Mahindra’s current passenger vehicle offerings in the country are – XUV700, Scorpio N, Scorpio Classic, XUV300, Bolero and Bolero Neo. The company, in FY23, had managed to sell 1,99,278 UVs so far, registering a 78 per cent growth against the same period in the last fiscal.

Mahindra’s automotive segment revenue, in the September quarter, grew to Rs 15,231 crore from Rs 8,245 crore in the year-ago period. Similarly, revenue from the farm equipment segment increased to Rs 7,506 crore from Rs 6,723 crore.



Source link

Tags: increaseMahindraproductionScorpioNXUV3OOXUV4OOXUV7OO
ShareTweetShareShare
Previous Post

Wal-Mart and the Worst Case Scenario

Next Post

8 Dividend Stocks For Rising Interest Rates

Related Posts

Devyani Worldwide’s Goal Worth Minimize By Citi After Gradual This fall Similar Retailer Gross sales Progress

Devyani Worldwide’s Goal Worth Minimize By Citi After Gradual This fall Similar Retailer Gross sales Progress

by Index Investing News
May 26, 2025
0

The biggest franchisee of Yum! introduced its This fall outcomes on Friday and reported a major narrowing of its internet...

What To Do with a Wage Bump: Make investments, Save, or Spend?

What To Do with a Wage Bump: Make investments, Save, or Spend?

by Index Investing News
May 25, 2025
0

In the event you’ve just lately obtained a wage bump, congratulations! An rising wage is likely one of the keys...

Beneath the Line – The Hindu BusinessLine

Beneath the Line – The Hindu BusinessLine

by Index Investing News
May 25, 2025
0

The diplomatic abilities of Overseas Minister S Jaishankar and his staff are being examined by Trump | Picture Credit score:...

Bangladesh courtroom begins first trial of Hasina-era officers

Bangladesh courtroom begins first trial of Hasina-era officers

by Index Investing News
May 25, 2025
0

Bangladesh started the primary trial on Sunday at a particular courtroom prosecuting former senior figures linked to the ousted authorities...

Junk bonds: CCC vs B unfold provides a warning signal for debt

Junk bonds: CCC vs B unfold provides a warning signal for debt

by Index Investing News
May 25, 2025
0

© 2025 Fortune Media IP Restricted. All Rights Reserved. Use of this web site constitutes acceptance of our Phrases of...

Next Post
8 Dividend Stocks For Rising Interest Rates

8 Dividend Stocks For Rising Interest Rates

Politicians’ Self-Interest and Dishonesty – Econlib

Politicians' Self-Interest and Dishonesty - Econlib

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

#ReadWithMe: Power Without Knowledge 6: Problems with Epistocracy

#ReadWithMe: Power Without Knowledge 6: Problems with Epistocracy

January 25, 2023
Identity Politics Could Kill America’s Scientific Edge

Identity Politics Could Kill America’s Scientific Edge

July 6, 2023
A Veterans Day Tribute to Dick Timberlake

A Veterans Day Tribute to Dick Timberlake

November 11, 2023
Tales Of Give up’ in Cannes: Q&A

Tales Of Give up’ in Cannes: Q&A

May 15, 2025
Stocks that will see action today: February 14, 2024

Stocks that will see action today: February 14, 2024

February 14, 2024
Is Zacks Premium Worth It?

Is Zacks Premium Worth It?

March 24, 2023
The Lucrative Business of … Pirating?

The Lucrative Business of … Pirating?

November 23, 2022
Crypto Twitter reacts to CFTC lawsuit against Binance

Crypto Twitter reacts to CFTC lawsuit against Binance

March 28, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In