Mahindra & Mahindra plant in Chakan, Maharashtra enters a new phase of expansion for which the company has planned investments to the tune of INR 4,000 crores over a period of 7 years. The M&M plant in Chakan was inaugurated in March 2010 with an investment of INR 4,000 crores and with installed capacity of 3 lakh units.
Credit Analysis & Research Ltd. (CARE) has upgraded credit rating of Mahindra and Mahindra to AAA. This triple A rating is the highest CARE AAA level of rating and conferred on M&M recognizing the company’s stronghold in financial services.
India’s leading SUV manufacturers Mahindra & Mahindra have announced sales for the month of October 2013. During the past month the company reported sales to the tune of 50,558 units. Sales of the company increased 17% in October 2013 as against sales in September 2013.
Mahindra & Mahindra Ltd. has increased product prices by up to 2% across products wef October 1, 2013, today. This equates to price increase of Rs 6,000 to Rs 20,000 depending on the vehicle. The increase is in response to higher input costs, rupee devaluation, and raw material cost increase.
Mahindra & Mahindra Ltd, India’s largest sports utility vehicle maker, will be purchasing 13.5 % stake in CIE – Spain’s auto component manufacturer, for 94.24 million Euros, which will gurantee M&M being the 2nd largest shareholder in CIE.