Latest news with #RajeshJejurikar
IOL News
3 days ago
- Automotive
- IOL News
Mahindra Thar would make a great Jimny rival - is it finally on the radar for South Africa?
The Mahindra Thar Roxx could be heading to South Africa later this year. Image: Supplied The second-generation Mahindra Thar is a rugged yet affordable compact SUV, which has been something of a hit in its home market of India. However markets such as South Africa have missed out on it so far. Since its introduction in 2020, the latest Thar has found more than 250,000 homes in India, and its popularity has surged further since the introduction of the five-door Roxx version in late 2024. When the latter was launched last year, Mahindra's head of automotive operations, Rajesh Jejurikar, told Business Today that the company had no immediate plans to export the model to markets outside of India. He said the factory would instead focus on satisfying demand in its home market. 'At this point of time, we are expecting that we are going to be pretty full with meeting domestic requirements for some point of time, so no plans on exports,' Jejurikar told the Indian publication. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Mahindra Thar Roxx. Image: Supplied However, that could be about to change. Mahindra recently increased production of the Thar in India, with capacity having increased from 6,500 units per month, in November 2024, to around 9,000 at present, Autocar reported. This comes as rumours circulate about the Thar's possible South African introduction later this year. Local Mahindra representatives announced at the recent Nampo show that the company planned to launch another SUV in South Africa this year, but they did not give any further details about this product. Yet given the options currently available in India, the Thar Roxx would appear to be the only viable option for local introduction. Furthermore, local dealers that we spoke to say they're expecting the new model to arrive around September this year. Interestingly, Mahindra was blocked from introducing the three-door Thar from the Australian market in 2021 after Jeep instituted legal action due to the vehicle's perceived resemblance to the Wrangler. But it is not believed that there are any legal impediments to the vehicle being introduced in South Africa. What is the Mahindra Thar Roxx? Although many have labelled it as a potential Suzuki Jimny killer, the Mahindra Thar Roxx is a somewhat bigger vehicle, with an overall length of 4,428mm stretching well beyond the Jimny's 3,820mm footprint. However, the Thar Roxx is still relatively compact, given that a Jeep Wrangler Unlimited stretches out at 4,882mm, and its pricing certainly overlaps with the aforementioned Suzuki. In India, the Thar Roxx costs between 12.99 and 23.39 Lahk (R271,000 to R489,000), while the Jimny 5-door sells for 12.76 to 14.96 Lahk (R266,000 to R313,000). Keep in mind that South African prices would be somewhat higher due to duties and other associated import costs. The cabin is available with some high-end features. Image: Mahindra
Economic Times
3 days ago
- Automotive
- Economic Times
Hyundai overtakes Tata Motors to grab third spot in May
TIL Creatives Representatie Image India's leading car makers Maruti Suzuki, Hyundai Motor India and Tata Motors all sold fewer vehicles in May from a year ago as sluggish demand, especially at the entry-level, kept the dispatches flat. However, Korean auto major Hyundai Motor India climbed up the ranks to the third spot in the passenger vehicle market in May ahead of Tata Motors, but trailed Mahindra & Mahindra (M&M), which retained the second slot for the second straight month this year. Market leader Maruti Suzuki remained ahead of rivals with sales of 135,962 units, but volumes fell by about 6% in May. Hyundai too saw volumes dip by 10.8% to 43,861 units last month but managed to stay ahead of Tata Motors with a lead of 2,304 units. At Tata Motors, sales slid 11% to 41,557 units. All three companies lost market share in the range 150-220 basis points in & Mahindra (M&M) and Toyota Kirloskar Motor (TKM) bucked the trend, growing market share to 14.9% (+ 260 bp) and 8.3% (+150 bp), respectively. Mahindra and Toyota took major strides on the back of its refreshed portfolio of SUVs over the last couple of years – sales share from metros for the companies rose to 24% (from 14% in FY21) and to 35% (from 31% in FY21), respectively, data from automotive consultancy firm JATO Dynamics showed. Mahindra is in the process of expanding capacity by 24% to 67,000 units per month by the end of FY27. The company is also looking to set up a new greenfield facility to meet demand, in the mid-term.'Our current SUV capacity utilisation is already over 90%. With the new products we are planning to launch, it's clear we will need additional capacity,' Rajesh Jejurikar, executive director and chief executive officer (automotive and farm sector) said in a recent interaction,In May, Partho Banerjee, senior executive officer (marketing and sales) at Maruti Suzuki said, while small car sales have been on a slide impacting more automakers in the segment, demand for SUVs too has waned. 'If we leave out the new models which have come in the last year, industry volumes fell by 8% in May', Banerjee said, adding military operations in border areas of Gujarat, Maharashtra and Jammu & Kashmir also hit the company's sales last month. These states account for 9% of total sales of Maruti however, said forecasts of above normal monsoons are a 'good sign' and coming months 'will be better.'Hyundai Motor India said while the week-long maintenance shutdown at its manufacturing facility in Tamil Nadu last month affected availability of critical models, it is confident of growing sales going ahead. HMIL Chief Operating Officer Tarun Grag said he is 'hopeful of a steady increase in demand with reduced uncertainty on the geo-political front and improved macro-economic situation.'The recent revisions in income tax slabs coupled with rate cuts being engineered by the central bank will enhance affordability among buyers, said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility, told ET. 'It will release disposable income and boost consumption. But where customers spend the money is a challenge. During and after covid, demand for personal mobility took a huge jump. That has now reduced a bit. Experiences, travelling with family, these things are now more of a priority', said Srivatsa, who also heads operations of the company's internal combustion engine passenger vehicles. Overall he expects the domestic market to grow by about 5% in FY26, he said. Separately, in the two-wheeler segment, Hero MotoCorp managed to edge past rival Honda Motorcycle & Scooter India (HMSI) to regain the top slot with sales of 488,997 units in May. Sales at the Japanese two-wheeler maker fell 7.4% to 417,256 units last month. ( Originally published on Jun 02, 2025 )
Time of India
4 days ago
- Automotive
- Time of India
Maruti, Hyundai, Tata see flat vehicle sales in May amid sluggish demand
India's leading car makers Maruti Suzuki , Hyundai Motor India and Tata Motors all sold fewer vehicles in May from a year ago as sluggish demand, especially at the entry-level, kept the dispatches flat. However, Korean auto major Hyundai Motor India climbed up the ranks to the third spot in the passenger vehicle market in May ahead of Tata Motors, but trailed Mahindra & Mahindra (M&M), which retained the second slot for the second straight month this year. Market leader Maruti Suzuki remained ahead of rivals with sales of 135,962 units, but volumes fell by about 6% in May. Hyundai too saw volumes dip by 10.8% to 43,861 units last month but managed to stay ahead of Tata Motors with a lead of 2,304 units. At Tata Motors, sales slid 11% to 41,557 units. All three companies lost market share in the range 150-220 basis points in May. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor (TKM) bucked the trend, growing market share to 14.9% (+ 260 bp) and 8.3% (+150 bp), respectively. Mahindra and Toyota took major strides on the back of its refreshed portfolio of SUVs over the last couple of years – sales share from metros for the companies rose to 24% (from 14% in FY21) and to 35% (from 31% in FY21), respectively, data from automotive consultancy firm JATO Dynamics showed. Mahindra is in the process of expanding capacity by 24% to 67,000 units per month by the end of FY27. The company is also looking to set up a new greenfield facility to meet demand, in the mid-term. Live Events 'Our current SUV capacity utilisation is already over 90%. With the new products we are planning to launch, it's clear we will need additional capacity,' Rajesh Jejurikar, executive director and chief executive officer (automotive and farm sector) said in a recent interaction, In May, Partho Banerjee, senior executive officer (marketing and sales) at Maruti Suzuki said, while small car sales have been on a slide impacting more automakers in the segment, demand for SUVs too has waned. 'If we leave out the new models which have come in the last year, industry volumes fell by 8% in May', Banerjee said, adding military operations in border areas of Gujarat, Maharashtra and Jammu & Kashmir also hit the company's sales last month. These states account for 9% of total sales of Maruti Suzuki. Banerjee, however, said forecasts of above normal monsoons are a 'good sign' and coming months 'will be better.' Hyundai Motor India said while the week-long maintenance shutdown at its manufacturing facility in Tamil Nadu last month affected availability of critical models, it is confident of growing sales going ahead. HMIL Chief Operating Officer Tarun Grag said he is 'hopeful of a steady increase in demand with reduced uncertainty on the geo-political front and improved macro-economic situation.' The recent revisions in income tax slabs coupled with rate cuts being engineered by the central bank will enhance affordability among buyers, said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility, told ET. 'It will release disposable income and boost consumption. But where customers spend the money is a challenge. During and after covid, demand for personal mobility took a huge jump. That has now reduced a bit. Experiences, travelling with family, these things are now more of a priority', said Srivatsa, who also heads operations of the company's internal combustion engine passenger vehicles. Overall he expects the domestic market to grow by about 5% in FY26, he said. Separately, in the two-wheeler segment, Hero MotoCorp managed to edge past rival Honda Motorcycle & Scooter India (HMSI) to regain the top slot with sales of 488,997 units in May. Sales at the Japanese two-wheeler maker fell 7.4% to 417,256 units last month. COMPANY MAY 2024 MAY 2025 % CHANGE MARKET SHARE MAY 2024 MARKET SHARE MAY 2025 Maruti Suzuki 144,002 135,962 -5.6 41 38.8 Mahindra & Mahindra 43,218 52,431 21.3 12.3 14.9 Hyundai Motor India 49,151 43,861 -10.8 14 12.5 Tata Motors 46,697 41,557 -11 13.3 11.8 Toyota Kirloskar Motor 23,928 29,280 22.4 6.8 8.3 INDUSTRY 350,967 350,866 - Domestic sales only Source: Companies /SIAM`
Entrepreneur
13-05-2025
- Automotive
- Entrepreneur
Amid External Headwinds, Automobile OEMs Gear Up To Navigate Bumpy Roads
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's automobile industry grew 9 percent year-on- year (YoY) to 22 lakh crore with 26.1 million units sold in 2024, surpassing Japan to become the third-largest global player. Passenger vehicles (PVs) have experienced consistent growth in production, sales,and exports. The recent announcements of quarterly results by automobile OEMs (original equipment manufacturer), gives deeper insights into the market as tariffs and related geo-political actions, are making the operating environment uncertain and challenging. According to reports, PV production and sales surpassed 4.5 million units by 2022-23 and are projected to reach over 5.6 million units by 2026-27. Export volumes have also shown significant growth, from 404,397 units in 2020-21 to an estimated 841,593 units in 2026-27, reflecting strong international demand and increasing domestic market penetration. Reflecting a growth sentiment, Mahindra & Mahindra Limited, in its latest earning call revealed that consolidated revenue for the fourth quarter went up by 24.5 percent from last year to INR 31,353 crore. Net profit for the quarter stood at INR 2,437 crore. Rajesh Jejurikar, executive director & CEO (Auto and Farm Sector), M&M Ltd. said, "We continued our outstanding performance for the year in Q4-F25, with significant gain of 310 bps YoY in SUV revenue share, and 480 bps YoY in LCV (< 3.5T) market share. In Tractors, we reached our highest-ever Q4 market share of 41.2 percent, gaining 180 bps YoY. In F25, our Auto Standalone PBIT margin improved by 110 bps and core tractor PBIT margins improved by 200 bps." In FY 2024-25, Maruti Suzuki India recorded its highest ever annual total sales and exports. The company continued to be the top exporter for the fourth consecutive year, now contributing nearly 43 percent of total passenger vehicle exports from India. However, in the fourth quarter of FY25, it reported a marginal decline of 1 per cent year-on-year (Y-o-Y) in the consolidated net profit. PAT stood at INR 3,911 crore in Q4 FY25 compared to INR3,952 crore in Q4 FY24. The firm sold 604,635 units during Q4, the highest ever in any quarter. "The fourth quarter demonstrated our ability to maintain sales momentum in a challenging environment, though profitability faced some pressure due to rising input costs and competitive market dynamics," said Hisashi Takeuchi, MD & CEO, Maruti Suzuki India Limited, in a statement. Although, Maruti Suzuki held 40.26 percent PV market share but Mahindra gained significantly with its SUV lineup. Companies aim to maintain a heightened vigil on costs and cash flows whilst continuing to invest in the future. Due to external headwinds, Tata Motors reported a 51 percent decline in consolidated net profit for the fourth quarter ended March 31, 2025, at INR 8,556 crore, down from INR 17,528 crore in the same period last fall was primarily attributed to lower volumes and reduced operating leverage. The company's consolidated revenue from operations stood at INR 1,19,503 crore, marginally up from INR 1,19,033 crore in the quarter. "On a consolidated basis the automotive business is now debt-free, reducing interest costs. This is both pleasing and significant as it reflects healthy business fundamentals delivered by a resilient team. Drawing strength from it, in this environment of heightened uncertainty, we will remain agile, proactively drive our growth agenda, reduce our cash break even further whilst continuing to invest in our future. With the shareholders also approving the demerger, we are on track to realise the full potential of each of the businesses," said PB Balaji, group chief financial officer, Tata Motors. The global premium luxury segment and Indian domestic markets are expected to weather this challenge relatively better. Meanwhile, the sales volumes at JLR rose 1.1 percent in the quarter, helped by strong demand for its highly profitable SUVs in North America and Europe. Adrian Mardell, JLR CEO, said, "JLR has ended the year with strong annual and quarterly earnings, including delivering our tenth consecutive profitable quarter and our net debt zero target. We have achieved record sales of Defender, revealed the stunning Jaguar Type 00 and we are preparing to launch the wonderful Range Rover Electric. This strong and consistent performance, the commitment of our people, partners and clients and the appeal of our luxury brands will support our response to current global economic challenges including the evolving global trading environment." In the calendar year (CY 2024), Maruti Suzuki retained dominance in the PV OEM segment, with 40.26 percent market share. This was followed by Hyundai Motor India at 13.75 percent, Tata Motors at 13.21 percent, and Mahindra & Mahindra (M&M) at 12.03 percent. M&M recorded robust growth fueled by demand for its Thar, XUV700, and Scorpio-N SUVs. Toyota Kirloskar grew 34 percent YoY and had a market share of 6.35 percent. Overall, looking ahead, demand growth will be shaped by macroeconomic factors such as consumption growth, inflation, infrastructure spending and global geopolitics. However, industry momentum is expected to be driven by continued innovation in line with evolving customer preferences. SUVs, CNG, and EVs will remain key growth drivers, fueling the industry's expansion.
Time of India
13-05-2025
- Automotive
- Time of India
M&M prefers caution as its mantra while ramping up EV output
HighlightsMahindra is deliberately slowing EV deliveries to ensure quality customer experience amid complex new tech and delivery processes. A strong shift in demand toward higher-range EV variants is prompting M&M to rework its product mix and introduce new 79 kWh options. Despite industry-wide slowdown, M&M expects to outpace market growth driven by new launches, strong EV bookings, and sustained demand for Thar Roxx. New Delhi: Mahindra & Mahindra is taking one step at a time when it comes to ramping up electric vehicle numbers, its top management told analysts at a recent Q&A session following the fourth quarter results. The transcript has since been uploaded on the company's website. 'This is a business which we don't want to be rash and ramp up for two reasons. There is a lot of product complexity and we are learning new technologies as we ramp up and so are our suppliers. So, we have to be very cautious in the way we ramp up production,' Rajesh Jejurikar , ED and CEO, Auto and Farm Sectors, said. Over the last 40 days, he continued, the company has also learnt that it need to be as cautious on the delivery process with customers since EVs are 'way, way, way more complex than what we thought or what we are used to in the ICE world'. It takes at least two hours to execute a delivery to a customer and even that is not enough. There are apps which have to be installed on multiple phones in the family and all of this takes time and resources. To start growing volumes, we will have to have a reasonable mix in Pack 1 and 2 because otherwise, we will saturate at a price point which will not be able to sustain high volumesRajesh Jejurika In big dealerships, the delivery momentum is 'way more than what we have the bandwidth' to give a really good experience to the customer. 'So, we have actually decided to slow down the pace of deliveries through April and May to make sure that we are not compromising on customer experience,' said Jejurikar. Also Read: Mahindra's EV biz turns EBITDA positive; profitability still a long road ahead New learnings The M&M team was categorical that it had to carry out a lot of learnings before delivering the first order of vehicles. This meant missing out on customer dates which, in turn, led to them pressurising dealers for quick deliveries of vehicles that were not completely updated. 'We put a stop to that process and started missing dates to customers. There was a lot of learning that we got through that but even as customers are driving vehicles, there are learnings coming on, things that we need to improve and we will keep updating the product,' he elaborated. Using software updates smartly to enhance customer experience is really 'what we would want to do' on an ongoing basis. For instance, there will be updates on Apple Car play on all vehicles. 'We are continuously working on feedback and will try to keep updating the product, but fundamentally we have a set of very happy customers,' said Jejurikar. The design story is actually really beginning to play out because the product has an amazing presence and the more vehicles come on the road, the more it is going to create desirability and aspirational valueRajesh Jejurikar The BE 6 and XEV 9e are doing precisely what they were intended to in terms of creating an aspirational value at accessible prices for a segment that was to be driven by design. 'The design story is actually really beginning to play out because the product has an amazing presence and the more vehicles come on the road, the more it is going to create desirability and aspirational value,' he said. Also Read: Mahindra seeks CCI nod to acquire majority stake in SML Isuzu Great experience The confidence in their success also stems from the fact that some of the features installed are 'not even available in top end luxury cars' in terms of the kind of music, auto park assist and so on. And finally, the EV driving experience, the quietness of the vehicle, the refinement, 'all of that makes for a very good experience'. From M&M's point of view, the other advantage is that it is not setting up a separate factory to do this and is leveraging existing manufacturing assets. This benefit also extends to the dealer network where there is viability by way of additional throughput without disproportionate additional investment. We have actually decided to slow down the pace of deliveries through April and May to make sure that we are not compromising on customer experienceRajesh Jejurikar According to Jejurikar, it was not going to be easy for any global player to come and create a network of 300 outlets overnight at the kind of price points that they come in with. 'We are able to reach the smallest towns because we have a well-established dealer network there and get volumes,' he added. However, when it comes to a Tier 2/3 region, 'you can't create at that price point which is going to be viable on an ongoing basis'. The booking momentum for the two EVs continues to be very steady and strong. The company wanted to wait a little bit longer to see how production ramp up was stabilising and with greater confidence now in daily production rate, will soon be putting out committed delivery dates to customers. Clarity on waiting time 'There is a little bit of uncertainty amongst people who had booked because we haven't given dates, but the average waiting time is going to be about four months as an average right now,' said Jejurikar. Interestingly, a lion's share of customers buying these EVs are non-Mahindra owners and a 'very different' target group that is coming in. Booking trends show a huge tilt towards the Pack 3 top end though e the management is confident that the mix will hopefully start changing. While enquiries are 'good' on Pack 1 and Pack 2, they are not getting converted into bookings since people want to see the vehicles first. For some period of time, a large chunk of the volumes sold will have a mix 'similar to this' through the April-June quarter since only Pack 3 vehicles are being retailed. 'To start growing volumes, we will have to have a reasonable mix in Pack 1 and 2 because otherwise, we will saturate at a price point which will not be able to sustain high volumes,' said Jejurikar. There is a lot of product complexity and we are learning new technologies as we ramp up and so are our suppliers. So, we have to be very cautious in the way we ramp up productionRajesh Jejurikar Simply put, this means that M&M we will have to start getting at least 25per cent -30per cent of its volumes from Pack 1 and 2. There is a very large segment of people who want 79 kWh in lower packs which has been 'very different' from M&M's assumption about 79 kWh for the top end while everything else would be 59 kWh. Also Read: A failed deal plan for the Scorpio, and a failed attempt that helped change M&M fortunes Range is everything 'There is a segment of people for whom range is really important and they will value this over many of the other features that we are offering. So, we will have to re-variant, and create some new variants which are 79 kWh with lesser other tech so that consumers get the 450 km, 500 km and 500 km plus range which we are promising,' he explained. Prior to their launch, M&M had skewed capacity 'much more' to BE 6 rather than XEV 9e but the mix now is 60:40 in favour of the latter. The battery pack is identical between the two products and whether 79 kWh or 59 kWh, it is mutually interchangeable. Jejurikar said the company is now following a supply chain process where it has identified what is unique and common between all the packs. 'We are not ordering by variants now but by exclusive parts versus common parts and following a process by which we are building inventory on these exclusive parts,' he added. In the process, there can be variability and these common parts will get consumed irrespective of the pack produced. Also Read: M&M to launch new vehicle platform; plans greenfield plant Outpacing industry growth While the growth outlook for the automobile industry this year has been forecast at barely 2per cent , M&M believes that it will do a lot better. This optimism is based on the fact that it will have a 12-month for Thar Roxx which was not present for six months of last fiscal. Likewise, XUV3XO will have a good 12 months too unlike last year. 'When we did not have 3XO, so we did not sell XUV300 in that period of time either because we have phased it out. So, these are two factors when we think about growth,' said Jejurikar. Beyond this, a lot of the EV volume will be 'additional incremental' without cannibalisation. 'We have also seen that our three-door is on a very strong momentum and it has not slowed down with Roxx coming. They are just appealing to two totally different segments. Putting all of this together in our best wisdom, we believe that we will do better than the market,' he signed off.
