New Delhi2 days ago
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After Maruti Suzuki and Hyundai, Mahindra & Mahindra has also announced to increase the prices of its vehicles. The company will increase the prices of the entire range of sports utility vehicles (SUV) and commercial vehicles (CV) in its portfolio by up to 3%.
Mahindra & Mahindra said in an exchange filing on Friday (December 6) that the increased rates on vehicles will come into effect from the beginning of January 2025. The company has taken this decision due to rising costs due to inflation and rise in commodity prices.
Mercedes Benz, BMW and Audi cars will also be expensive Before this, other automobile companies like Maruti Suzuki, Hyundai Motor India, Mercedes-Benz, BMW and Audi have also announced increase in the prices of their vehicles from January 2025. All the companies have given the same reason behind increasing the prices. Companies have taken such a decision due to increase in input costs and logistics.
Mahindra is India’s fourth largest car company. Mahindra & Mahindra is India’s fourth largest car company in terms of market share. In the month of November this year, the company sold 79,083 cars. There has been an increase of 12% on annual basis. In the month of November last year, the company had sold 70,576 cars.
Mahindra sold 46,222 cars in the utility vehicle segment in the Indian market, which is 16% more than 39,981 units sold in November a year ago. The company has exported 1,072 cars last month. In the commercial vehicle segment, the company has sold 23,282 vehicles in India and outside India.
Mahindra & Mahindra’s net profit increased by 35% in the second quarter The company has registered a profit (net profit) of Rs 3,171 crore in the second quarter of the financial year 2024-25. There has been an increase of 35% on annual basis (YoY). The company had made a profit of Rs 2,348 crore in the same quarter a year ago.
In the July-September quarter, the company earned Rs 37,924 crore from operations (revenue). The company’s revenue has increased by 10% on an annual basis. In the same quarter a year ago, the company had generated revenue of Rs 34,436 crore.
Started as ‘Mahindra and Mohammed’ Mahindra & Mahindra is one of the largest automobile companies in India in terms of production. It was established in 1945 as Mahindra & Mohammed, which was later renamed Mahindra & Mahindra.
Mahindra is the largest tractor manufacturer in the world by tractor unit volume. Maruti Suzuki India and Tata Motors are its biggest competitors in the country’s vehicle market.
Mahindra was started by Kailash Chandra Mahindra and Jagdish Chandra Mahindra along with Malik Ghulam Muhammad. Currently Jagdish Chandra Mahindra’s grandson Anand is the chairman of Mahindra Group.
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