Latest news with #Jejurikar
IOL News
03-06-2025
- Automotive
- IOL News
Mahindra Thar would make a great Jimny rival - is it finally on the radar for South Africa?
The Mahindra Thar Roxx could be heading to South Africa later this year. Image: Supplied The second-generation Mahindra Thar is a rugged yet affordable compact SUV, which has been something of a hit in its home market of India. However markets such as South Africa have missed out on it so far. Since its introduction in 2020, the latest Thar has found more than 250,000 homes in India, and its popularity has surged further since the introduction of the five-door Roxx version in late 2024. When the latter was launched last year, Mahindra's head of automotive operations, Rajesh Jejurikar, told Business Today that the company had no immediate plans to export the model to markets outside of India. He said the factory would instead focus on satisfying demand in its home market. 'At this point of time, we are expecting that we are going to be pretty full with meeting domestic requirements for some point of time, so no plans on exports,' Jejurikar told the Indian publication. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Mahindra Thar Roxx. Image: Supplied However, that could be about to change. Mahindra recently increased production of the Thar in India, with capacity having increased from 6,500 units per month, in November 2024, to around 9,000 at present, Autocar reported. This comes as rumours circulate about the Thar's possible South African introduction later this year. Local Mahindra representatives announced at the recent Nampo show that the company planned to launch another SUV in South Africa this year, but they did not give any further details about this product. Yet given the options currently available in India, the Thar Roxx would appear to be the only viable option for local introduction. Furthermore, local dealers that we spoke to say they're expecting the new model to arrive around September this year. Interestingly, Mahindra was blocked from introducing the three-door Thar from the Australian market in 2021 after Jeep instituted legal action due to the vehicle's perceived resemblance to the Wrangler. But it is not believed that there are any legal impediments to the vehicle being introduced in South Africa. What is the Mahindra Thar Roxx? Although many have labelled it as a potential Suzuki Jimny killer, the Mahindra Thar Roxx is a somewhat bigger vehicle, with an overall length of 4,428mm stretching well beyond the Jimny's 3,820mm footprint. However, the Thar Roxx is still relatively compact, given that a Jeep Wrangler Unlimited stretches out at 4,882mm, and its pricing certainly overlaps with the aforementioned Suzuki. In India, the Thar Roxx costs between 12.99 and 23.39 Lahk (R271,000 to R489,000), while the Jimny 5-door sells for 12.76 to 14.96 Lahk (R266,000 to R313,000). Keep in mind that South African prices would be somewhat higher due to duties and other associated import costs. The cabin is available with some high-end features. Image: Mahindra
Time of India
13-05-2025
- Automotive
- Time of India
M&M prefers caution as its mantra while ramping up EV output
HighlightsMahindra is deliberately slowing EV deliveries to ensure quality customer experience amid complex new tech and delivery processes. A strong shift in demand toward higher-range EV variants is prompting M&M to rework its product mix and introduce new 79 kWh options. Despite industry-wide slowdown, M&M expects to outpace market growth driven by new launches, strong EV bookings, and sustained demand for Thar Roxx. New Delhi: Mahindra & Mahindra is taking one step at a time when it comes to ramping up electric vehicle numbers, its top management told analysts at a recent Q&A session following the fourth quarter results. The transcript has since been uploaded on the company's website. 'This is a business which we don't want to be rash and ramp up for two reasons. There is a lot of product complexity and we are learning new technologies as we ramp up and so are our suppliers. So, we have to be very cautious in the way we ramp up production,' Rajesh Jejurikar , ED and CEO, Auto and Farm Sectors, said. Over the last 40 days, he continued, the company has also learnt that it need to be as cautious on the delivery process with customers since EVs are 'way, way, way more complex than what we thought or what we are used to in the ICE world'. It takes at least two hours to execute a delivery to a customer and even that is not enough. There are apps which have to be installed on multiple phones in the family and all of this takes time and resources. To start growing volumes, we will have to have a reasonable mix in Pack 1 and 2 because otherwise, we will saturate at a price point which will not be able to sustain high volumesRajesh Jejurika In big dealerships, the delivery momentum is 'way more than what we have the bandwidth' to give a really good experience to the customer. 'So, we have actually decided to slow down the pace of deliveries through April and May to make sure that we are not compromising on customer experience,' said Jejurikar. Also Read: Mahindra's EV biz turns EBITDA positive; profitability still a long road ahead New learnings The M&M team was categorical that it had to carry out a lot of learnings before delivering the first order of vehicles. This meant missing out on customer dates which, in turn, led to them pressurising dealers for quick deliveries of vehicles that were not completely updated. 'We put a stop to that process and started missing dates to customers. There was a lot of learning that we got through that but even as customers are driving vehicles, there are learnings coming on, things that we need to improve and we will keep updating the product,' he elaborated. Using software updates smartly to enhance customer experience is really 'what we would want to do' on an ongoing basis. For instance, there will be updates on Apple Car play on all vehicles. 'We are continuously working on feedback and will try to keep updating the product, but fundamentally we have a set of very happy customers,' said Jejurikar. The design story is actually really beginning to play out because the product has an amazing presence and the more vehicles come on the road, the more it is going to create desirability and aspirational valueRajesh Jejurikar The BE 6 and XEV 9e are doing precisely what they were intended to in terms of creating an aspirational value at accessible prices for a segment that was to be driven by design. 'The design story is actually really beginning to play out because the product has an amazing presence and the more vehicles come on the road, the more it is going to create desirability and aspirational value,' he said. Also Read: Mahindra seeks CCI nod to acquire majority stake in SML Isuzu Great experience The confidence in their success also stems from the fact that some of the features installed are 'not even available in top end luxury cars' in terms of the kind of music, auto park assist and so on. And finally, the EV driving experience, the quietness of the vehicle, the refinement, 'all of that makes for a very good experience'. From M&M's point of view, the other advantage is that it is not setting up a separate factory to do this and is leveraging existing manufacturing assets. This benefit also extends to the dealer network where there is viability by way of additional throughput without disproportionate additional investment. We have actually decided to slow down the pace of deliveries through April and May to make sure that we are not compromising on customer experienceRajesh Jejurikar According to Jejurikar, it was not going to be easy for any global player to come and create a network of 300 outlets overnight at the kind of price points that they come in with. 'We are able to reach the smallest towns because we have a well-established dealer network there and get volumes,' he added. However, when it comes to a Tier 2/3 region, 'you can't create at that price point which is going to be viable on an ongoing basis'. The booking momentum for the two EVs continues to be very steady and strong. The company wanted to wait a little bit longer to see how production ramp up was stabilising and with greater confidence now in daily production rate, will soon be putting out committed delivery dates to customers. Clarity on waiting time 'There is a little bit of uncertainty amongst people who had booked because we haven't given dates, but the average waiting time is going to be about four months as an average right now,' said Jejurikar. Interestingly, a lion's share of customers buying these EVs are non-Mahindra owners and a 'very different' target group that is coming in. Booking trends show a huge tilt towards the Pack 3 top end though e the management is confident that the mix will hopefully start changing. While enquiries are 'good' on Pack 1 and Pack 2, they are not getting converted into bookings since people want to see the vehicles first. For some period of time, a large chunk of the volumes sold will have a mix 'similar to this' through the April-June quarter since only Pack 3 vehicles are being retailed. 'To start growing volumes, we will have to have a reasonable mix in Pack 1 and 2 because otherwise, we will saturate at a price point which will not be able to sustain high volumes,' said Jejurikar. There is a lot of product complexity and we are learning new technologies as we ramp up and so are our suppliers. So, we have to be very cautious in the way we ramp up productionRajesh Jejurikar Simply put, this means that M&M we will have to start getting at least 25per cent -30per cent of its volumes from Pack 1 and 2. There is a very large segment of people who want 79 kWh in lower packs which has been 'very different' from M&M's assumption about 79 kWh for the top end while everything else would be 59 kWh. Also Read: A failed deal plan for the Scorpio, and a failed attempt that helped change M&M fortunes Range is everything 'There is a segment of people for whom range is really important and they will value this over many of the other features that we are offering. So, we will have to re-variant, and create some new variants which are 79 kWh with lesser other tech so that consumers get the 450 km, 500 km and 500 km plus range which we are promising,' he explained. Prior to their launch, M&M had skewed capacity 'much more' to BE 6 rather than XEV 9e but the mix now is 60:40 in favour of the latter. The battery pack is identical between the two products and whether 79 kWh or 59 kWh, it is mutually interchangeable. Jejurikar said the company is now following a supply chain process where it has identified what is unique and common between all the packs. 'We are not ordering by variants now but by exclusive parts versus common parts and following a process by which we are building inventory on these exclusive parts,' he added. In the process, there can be variability and these common parts will get consumed irrespective of the pack produced. Also Read: M&M to launch new vehicle platform; plans greenfield plant Outpacing industry growth While the growth outlook for the automobile industry this year has been forecast at barely 2per cent , M&M believes that it will do a lot better. This optimism is based on the fact that it will have a 12-month for Thar Roxx which was not present for six months of last fiscal. Likewise, XUV3XO will have a good 12 months too unlike last year. 'When we did not have 3XO, so we did not sell XUV300 in that period of time either because we have phased it out. So, these are two factors when we think about growth,' said Jejurikar. Beyond this, a lot of the EV volume will be 'additional incremental' without cannibalisation. 'We have also seen that our three-door is on a very strong momentum and it has not slowed down with Roxx coming. They are just appealing to two totally different segments. Putting all of this together in our best wisdom, we believe that we will do better than the market,' he signed off.
Hindustan Times
06-05-2025
- Automotive
- Hindustan Times
Mahindra plans to set up a new passenger vehicle plant, aiming for March 2028 production commencement
Mahindra plans to roll out passenger vehicles from its new production plant by March 2028, while in this fiscal, it aims to ramp up production of XUV 3XO and Thar Roxx. Mahindra is planning to set up a new production facility dedicated to passenger vehicles. The homegrown automobile giant that posted a 13.34 per cent rise in consolidated profit in the January-March quarter of 2025 has announced plans to set up a new manufacturing plant, which will be primarily responsible for rolling out passenger vehicles. The new production facility is expected to be operational by March 2028. While the plan of setting up a new production plant is in place, the location and other details of the facility are yet to be finalised, reported news agency PTI. While announcing the plans for the new production facility, Rajesh Jejurikar, Executive Director and CEO for Automotive and Farm Equipment Sector at Mahindra & Mahindra, said that it will be a large, futuristic plant that will be set up. "At this point, we're thinking of it as primarily a PV plant, but we would need provision maybe for some other elements of our business to come in as we start conceptualising and seeing what kind of investment subsidies we get in different states as we plan for the future," PTI quoted Jejurikar saying. He also added that the cash flow related to the proposed facility has been provided in the capex. Also Read : Upcoming cars in India Mahindra & Mahindra reported a 13.34 per cent rise in its consolidated profit after tax to ₹ 3,541.85 crore in the fourth quarter of the last financial year that ended on March 31, 2025. This was on the back of good performance from the auto and farm equipment sectors, claimed the OEM. M&M had delivered a consolidated net profit of ₹ 3,124.94 crore in the same quarter of the previous fiscal, according to an exchange filing. Consolidated revenue from operations or the company stood at ₹ 42,585.67 crore in the quarter under review, as compared to ₹ 35,373.34 crore in the year-ago period. Mahindra aims to increase production capacity for XUV 3XO and Thar Roxx With the rapidly increasing demand and sales of SUVs, Mahindra has been witnessing additional pressure. The rising number of bookings is leading to longer waiting periods for the Mahindra SUV buyers. To cope with this, Mahindra is looking to increase production capacity for models such as the XUV 3XO and Thar Roxx by 3,000 units this fiscal, besides creating new platform capacity of 1.2 lakh units per annum in the Chakan plant. Mahindra plans to scale up its monthly production from 61,500 units to 85,000 units by the end of FY26, taking its annual installed capacity beyond 10 lakh units. "We will add the 3XO and Roxx capacity, which is 9,000 and roughly 10,500 units, respectively. That's an incremental 3,000 units in FY26," Jejurikar reportedly said. He also announced that a new vehicle platform will be unveiled on August 15 this year and will be backed by additional capacity in Chakan. "For the new platform that we will talk about, we will be creating additional capacity in Chakan of 120,000 units per annum," Jejurikar further added. Meanwhile, Mahindra has also revealed that it will have internal combustion engine-powered SUVs and five battery-powered electric vehicles in its portfolio by 2030. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 06 May 2025, 08:24 AM IST
Time of India
06-05-2025
- Automotive
- Time of India
Mahindra open to strategic alliances to drive M&HCV growth
Even as Mahindra & Mahindra ( M&M ) advances its acquisition of SML Isuzu to strengthen its presence in the intermediate and light commercial vehicle (I&LCV) space, the company is also actively exploring opportunities to scale up in the medium and heavy commercial vehicle (M&HCV) segment. This strategic push comes as global players increasingly view India as a key hub of opportunities, driven by shifting geopolitical dynamics. Responding to an ETAuto question about a possible strategic tie-up to boost its M&HCV business, Rajesh Jejurikar, Executive Director and CEO (Auto & Farm Sector), said the segment is now considered a "scalable growth gem" for the company. 'We will look at every opportunity to grow. If there is a possibility to collaborate and build momentum in this segment, we are completely open to it,' Jejurikar said, during a media conference call. 'It is now firmly in the category of a growth gem, and we intend to invest in scaling the business.' However, he acknowledged that gaining market share in the M&HCV space remains a challenge. 'We are very mindful that market share gains in this segment don't come easy.' Currently, the auto major holds a 3 per cent share in the M&HCV segment, a market dominated by players like Tata Motors and Ashok Leyland. The company aims to grow its share to 5 per cent by 2030. For Mahindra, a collaboration would offer access to critical technological capabilities from a global partner, creating a mutually beneficial, win-win scenario. Betting big on LMM business The Mumbai-headquartered automaker is also betting big on another of its 'growth gems'-- its Last Mile Mobility (LMM) business– where it is targeting a 2X to 3X growth trajectory. Jejuriker said the growth strategy includes a strong push for electric vehicles (EVs), expanding beyond three-wheelers to potentially include four-wheelers within the last mile mobility category. 'We believe exports will present a significant growth opportunity, and it will be a key area of focus going forward,' he added.
Economic Times
05-05-2025
- Automotive
- Economic Times
Strong SUV demand drives up M&M standalone net 22% in March quarter
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: In a sluggish market, homegrown auto major Mahindra & Mahindra (M&M) on Monday beat Street estimates to report a 22% increase in standalone net profit at ₹2,437 crore for the fourth quarter ended March 31, driven by strong demand for its range of from operations in the period under consideration rose 24% to ₹31,609 crore. During the quarter, the company sold 253,028 vehicles, which is an increase of 18% over the corresponding period of the previous fiscal year. While tractor sales increased 23% to 87,138 units, those of utility vehicles rose 18% to 149,000 the automotive division witnessing double-digit growth in volume sales, the company said it plans to set up a greenfield manufacturing facility to meet future demand by FY28. Current SUV capacity utilisation is already over 90%. Models such as the Thar Roxx and XUV 3XO are running at full capacity, while others such as the Bolero are operating below that company did not disclose the location or capacity addition planned at the new facility, but said expanding capacity is essential given it has a pipeline of new products scheduled for launch by Jejurikar, executive director & CEO (auto and farm sector), M&M, said: "We are coming up with a new greenfield facility because our current SUV capacity utilisation is already over 90%. We haven't yet finalised the exact capacity addition - that's still a work in progress. But with the new products we're planning to launch by 2030, it's clear we will need additional capacity."The company reported its highest-ever full-year market share in the tractor segment last fiscal, at 43.3%, an increase of 170 basis points over the previous year. The company's share in the SUV segment too rose by 210 basis points to 22.5%. Similarly, for light commercial vehicles (LCVs), market share increased by 290 basis points to 51.9%.Anish Shah, group CEO & managing director, M&M, said, "We have delivered strong growth on the back of stellar execution in FY25. Auto and farm continue to gain market share and expand profitability. TechM is making commendable progress towards its dual objectives of strengthening client positioning and margin expansion. MMFSL has maintained GS3 under 4% as committed, remains focused on controls, and has delivered 33% growth in profits. We continue to build strong businesses which will deliver significant value to our stakeholders."M&M Group CFO Amarjyoti Barua said it had been an "excellent year" with broad-based growth and profitability improvement across businesses. In line with their commitment to capital allocation, he added: "Our results include nearly ₹10,000 crore of cash generation in FY25, which gives us the ability to continue to drive value for our shareholders through strategic investments. We are happy to declare a 20% growth in dividend for FY26 on the back of this strong performance."
