
Mahindra recalls over 1 lakh XUV 700 SUVs, 3,560 XUV 400 EVs
Mahindra will inspect wiring loom routing in the engine bay of 1,08,306 units of XUV700 cars
Mahindra will inspect wiring loom routing in the engine bay of 1,08,306 units of XUV700 cars
The company's automotive business clocked the highest-ever volumes in the first quarter at 186,000 units
Mahindra's EV subsidiary's valuation jumps 15% from ₹70,070 crore to up to ₹80,580 crore
Shares of Mahindra & Mahindra dropped as much as 7% on Thursday.
The Anand Mahindra-led conglomerate says it will support interested companies in setting up their manufacturing base in India
The share price of Maruti Suzuki, and Hero MotoCorp dropped between 0.6% and 1.2% on the BSE, while Mahindra & Mahindra shares surged 3% to hit a 52-week high.
Maruti Suzuki, the country's largest carmaker, reported a 10.3% year-on-year (YoY) surge in its sales to 1,78,083 units as against 1,61,413 units in the same period last year.
The auto major has also increased its capital expenditure outlay to ₹15,900 crore from ₹15,075 crore for FY22 to FY24.
The bookings for Thar 5-door, which is touted to be a major rival of Maruti Suzuki's Jimny, have already started.
The company continued to retain the top position in the SUV segment for the 5th consecutive quarter, with a market share of 19.6%.