Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
22 October, 2014 03:01 IST
News
M&M hikes capacities of 3 brands to reduce waiting period for customers
Source: IRIS | 15 Jan, 2013, 08.26AM
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
Angel Broking recommends Accumulate on HDFC Bank - 21-Oct-2014 18:35
K P I T Technologies consolidated quarterly profit rises 5.72% - 21-Oct-2014 18:08
Cairn India consolidated quarterly profit falls 32.71% - 21-Oct-2014 18:02
FIIs hike stake in Exide Industries - 21-Oct-2014 17:51
FIIs cut stake in RPower, DIIs raise exposure - 21-Oct-2014 17:43
TCS launches User Experience Center of Excellence in Cincinnati, Ohio - 21-Oct-2014 17:26
Maruti Suzuki announces 6th edition of sustainability report - 21-Oct-2014 17:21
Induslnd Bank inks deal with Farhan Akhtar to endorse the brand - 21-Oct-2014 16:58
Angel Broking maintains neutral on Indoco Remedies - 21-Oct-2014 16:03
Mcleod Russel India standalone quarterly profit falls 9.77% - 21-Oct-2014 15:57
Angel Broking maintains Buy on United Phosphorus - 21-Oct-2014 15:53
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   gdj9hj into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer