Mahindra’s Q3 revenues up 8 percent, expects no loss in production in Q4

Mahindra & Mahindra has been working on alternative sources for the IC (an integral part of the ECU) and has in place a strategy to ensure that it is able to meet its requirements.

Autocar Pro News Desk By Autocar Pro News Desk calendar 10 Feb 2022 Views icon9107 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Mahindra saw good booking numbers for the Bolero and other vehicles in Q3

Mahindra saw good booking numbers for the Bolero and other vehicles in Q3

Mahindra & Mahindra said its Q3 revenues for the third quarter of the current fiscal were 8 percent higher than in the year-earlier quarter. Its Q3 revenues were Rs 15,239 crore as against Rs 14,057 crore in Q3 in the year-earlier period.

In the auto sector, the company’s leadership said that the XUV 700 launch  had received an overwhelmimg response with over 100,000 bookings in 4 months. The company has reiterated that that the auto business continues to register strong booking pipeline for its key models. On the exports front, the volume growth was 58.3 percent YOY.

During Q3, the company lost 20,000 units of production due to the on-going semiconductor shortage which has affected all players in the auto sector. However, Mahindra & Mahindra has been working on alternative sources for the IC (an integral part of the ECU) and has in place a strategy to ensure that it is able to meet its requirements. Company officials said that sourcing from the open markets is part of its strategy but cautioned that time would be spent in ensuring validation. However, the company has seen its semiconductor scene show an improvement in February and anticipates no loss in production in Q4.

On the Farm Equipment Sector, the company’s market share for tractors in Q3 F22 was 39.4 percent, up 1.4 percent YOY. Its farm export volume was the highest ever in YTD December, up 77.4 percent. The company’s farm subsidiaries recorded its 6 the consecutive quarter of Positive PBIT. In the three-wheeler electric domain, the company was its highest ever quarterly billing, up 170.2 percent YOY

 

 

RELATED ARTICLES
Ask Automotive to set up JV with Aisin to sell aftermarket parts for cars

auther Autocar Pro News Desk calendar24 Apr 2024

Ask Automotive will have 51% of the equity of the joint venture to be set up with Aisin Asia (Thailand) Company and Aisi...

Kia Carens gets 3-star Global NCAP rating in fresh tests

auther Autocar Pro News Desk calendar24 Apr 2024

The Carens MPV, which was tested twice under the new protocol, scored zero stars for adult occupancy in the first test.

Tata Elxsi-Renesas MCU for EVs enables cost optimisation, speedier time to market

auther Autocar Pro News Desk calendar21 Apr 2024

Modular, scalable design of Motor Control Unit enables integration across diverse EV applications. Claimed to be reduce ...