Anand Mahindra, the chairman of the homegrown auto group Mahindra & Mahindra, on Wednesday admitted that entering the commuter bike segment more than a decade ago was a failure on the part of the group.

The group entered two-wheelers after buying out Kinetic Motors in July 2008 and relaunched the 'Freedom' bikes under the label of 'Mojo' but has not been able to make a mark in the vastly entry-model driven two-wheeler space in the country even after a decade.

Shares of Mahindra & Mahindra (M&M) slipped 2 per cent to Rs 512 on the BSE on Friday and was trading close to its 52-week low level. The car & utility vehicles maker's stock is less than 2 per cent away from its 52-week low price of Rs 503, touched on August 14, in intra-day trade.

In past one month, M&M has underperformed the market by falling 12 per cent as the company's tractor sales delivered disappointing performance.

Automobile maker Mahindra and Mahindra Ltd has received a patent for its multimodal solar power system, which reduces the electric load demand on vehicle battery, and supports the operation of an air-conditioner. This innovation will help increase the life of vehicle batteries and reduce greenhouse gas emissions.

Mahindra Two Wheelers Europe, a Mahindra subsidiary, is set to seek full control of Peugeot Motorcycles (PMTC) for an undisclosed amount, the company said in a notification to the exchanges.

The move, it said, "reaffirms the commitment" of the group to future growth of the French company. The subsidiary currently holds 51 per cent in PMTC. It entered into the collaboration with PMTC, part of Groupe PSA in January 2015.

Homegrown auto major Mahindra and Mahindra (M&M) on Tuesday reported a 21 per cent decline in total sales at 43,343 units in September.

The company had sold 55,022 units in the corresponding month last year, M&M said in a regulatory filing.

Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said.

Pune: Mahindra & Mahindra, India's biggest utility vehicle maker, on Thursday rolled out a subscription-based service for retail buyers of its personal range of cars to boost sales ahead of festive season and amid worst slowing demand.

Under this scheme, Mahindra's vehicles in Delhi (NCR), Mumbai, Pune, Bengaluru, Hyderabad, Kolkata, Chandigarh and Ahmedabad will be available at a subscription price starting from Rs 19,720 per month.

Mahindra & Mahindra (M&M) has deferred its planned capital expenditure of `800-1,000 crore for the auto and tractor segments owing to a prolonged slowdown in auto sales. The company has also put on hold other discretionary capex, managing director Pawan Goenka said on Thursday.

M&M had in late May announced its plan to invest ` 18,000 crore over the next three years, including `12,000 crore towards capital expenditure and `6,000 crore in its subsidiaries.

Auto major Mahindra & Mahindra (M&M) is seeking a fiscal stimulus package from the government for the automobile sector, which had been battling a prolonged slowdown.

Pawan Goenka, managing director, M&M, told reporters that the company has retrenched about 1,500 temporary workers since April 1 this year.

Mahindra & Mahindra (M&M), along with its local partner in Sri Lanka Ideal Motors, has set up the island nation's first passenger car assembly plant.

The Indian carmaker has set up a joint venture with Ideal Motors, its dealer partner in Sri Lanka for 10 years. The 65:35 JV between Ideal Motors and M&M is christened Mahindra Ideal Lanka Private Limited, which will operate the assembly plant at Welipenna, about 60 km from Colombo.

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