23 August, 2014 11:01 IST
News
M&M hikes capacities of 3 brands to reduce waiting period for customers
Source: IRIS (15-JAN-13)
Comments  |  Post Comment

Mahindra & Mahindra (M&M) announced on Monday that it had hiked its production capacities with immediate effect. This is in response ``to the overwhelming demand for the Quanto, XUV500 and Rexton across the country,`` the company said in a statement.

Accordingly, the capacity of the Quanto has been raised to 3,500 units per month, the XUV500 to 4,500 units and the SsangYong Rexton to 500 units. The increase in capacity is expected to bring down the waiting period for these popular products.

Bookings for these brands have been opened across more centres in India. Mahindra`s Quanto has received bookings of more than 12,000 units within the first two months of its launch while deliveries for the XUV500 are as per schedule. The company`s premium SUV, the SsangYong Rexton, with over 1,500 bookings across nine cities, is to be launched in more cities this month, M&M said.

In a statement, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra said, ``While we have been overwhelmed at the response from our customers to all the three products which are at different price points, we thought it best to expand capacities so that prospective customers are not inconvenienced with long waiting periods.``

Shares of the company declined Rs 6, or 0.64%, to trade at Rs 935.25. The total volume of shares traded was 42,728 at the BSE (Monday).



Mahindra & Mahindra Limited   (Q,N,C,F)*


News
Merrill Lynch picks 2.32 lakh shares in Welspun Projects - 22-Aug-2014 18:02
'Buy' Entertainment Network; target Rs 490: ICICIdirect - 22-Aug-2014 16:55
NSE, BSE exclude United Spirits from F&O segment - 22-Aug-2014 15:53
Sonata arm to acquire controlling stake in Rezopia - 22-Aug-2014 15:41
ICICI Bank allots share under ESOS - 22-Aug-2014 15:17
Cyient to acquire majority stake in Invati Insights - 22-Aug-2014 14:47
MICROSEC sees 32% upside potential in Whirlpool of India - 22-Aug-2014 13:29
Karnataka Bank inks pact with NBHC to extend collateral management services - 22-Aug-2014 13:23
Tilaknagar Industries clarifies on news report - 22-Aug-2014 13:03
Dairy business could be very attractive opportunity for ITC: Nomura - 22-Aug-2014 12:08
HDFC Sec raises TCS target price by 10% - 22-Aug-2014 11:35
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   3f5767 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer