Mahindra & Mahindra announced its financial results for the first financial quarter of the year 2024-25. The homegrown automaker revealed that it achieved 2.12 lakh volumes in the first quarter, a hike of 14 percent. Out of these numbers, 1.24 lakh were SUVs, giving it a total market share of 21.6 percent. The production capacity is also being scaled up from 49,000 per month earlier to 64,000 per month by the end of this year.
The brand is also the highest-selling in several other segments, including LCV (light commercial vehicle) with a 50.9 percent market share, tractors at 44.7 percent share, and electric 3-wheelers with a 43.4 percent share. The total quarterly revenue increased by 10 percent, but the net profit dropped by 6 percent.
Dr. Anish Shah, Managing Director & CEO, M&M Ltd., said, "We have started the FY25 fiscal year with strong operating performance across all our businesses. Capitalizing on leadership positions, Auto and Farm continued to expand market share and profit margins. Transformation at MMFSL is yielding results as asset quality improves, and transformation at TechM has commenced with margins as a key focus. With this momentum and relentless drive towards execution, we will continue to 'deliver scale' in FY25."
Mahindra is also gearing up to unveil its much-awaited Thar 5-door on the 15th of August, Independence Day. There have been several teasers and trailers as a build-up to the event. The Thar 5-door has been christened the Thar Roxx and will be placed above the 3-door variant. It is likely to be offered in both petrol and diesel variants.
The recent sightings of the Thar Roxx test mules confirm that the car will be feature-loaded and equipped to appeal to even family car buyers. It is expected to have a starting price of around Rs 14 lakh (ex-showroom). The Thar Roxx will be a rival to the Force Gurkha 5-door and Maruti Suzuki Jimny. However, given its pricing, it will also be a rugged and imposing alternative to the likes of the MG Hector and Tata Harrier.
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