Mahindra Group matches Chief Minister’s Drought Relief Fund with a crore
Mahindra Group matches Chief Minister’s Drought Relief Fund with a crore. A small car from the home based automaker was awaited, and Vibe will help the company garner sales in a segment that was untouched by them until now.
People have to walk for miles or go for days on end without any fresh supply of water with an increasing number of wells having dried up this year. One tanker of water which at one time cost INR 300 to INR 500 is now available at an inflated price of INR 1,200 to INR 1,500, while ground water is also quickly depleting due to rampant bore wells being dug.
Mahindra Group has come to the rescue of the farmers in drought ridden areas of Maharashtra. The company has committed Rs 2 crore to the Maharashtra government. Funds allotted to the Drought Relief Fund in the state will see 1 crore being donated by Mahindra crore to conduct drought resistance programs across the state which will involve both water storage and water saving practices for agriculture.
On the car front, Mahindra had been looking for relief regarding an added 3% tax on SUV’s after this years Union budget. The new tax bracket has held company sales in a chokehold resulting in a very flat April sales report. All eyes are now focused on the new Mahindra Vibe hatchback launch thsi month. This will be Mahindra’s 2nd car under 4 metres in length ensuring the diesel vehicle price is reasonable. In recent years, Mahindra has introduced SUV’s that have kept the company in a strong place. First came the very popular Mahindra XUV500, and last year the sub 4 metre Quanto was launched. A small car from the home based automaker was awaited, and Vibe will help the company garner sales in a segment that was untouched by them until now.