Vertu Motors has completed the acquisition of online commercial vehicles retailer Vans Direct for a total consideration of £7.5 million. The AM100 group announced the deal via the London Stock Exchange this morning, with chief executive Robert Forrester describing the business as being “synergistic and parallel to” its existing core motor retail business. Vertu said… Continue reading Vertu Motors completes £7.5m Vans Direct acquisition
Tag: Financial Results
How Blockchain Can Reduce Costs For The Shifting Electric Vehicle Landscape – Forbes
The auto industry has been in the spotlight of late, as the Trump administration has threatened to cut subsidies for electric cars (EVs)—partly in response to the significant layoffs GM announced in November. If Congress chooses to eliminate the subsidies, the act would hurt EV adoption in the U.S. and impact the auto industry, which… Continue reading How Blockchain Can Reduce Costs For The Shifting Electric Vehicle Landscape – Forbes
GM and DoorDash to deliver food in self-driving cars – CNN
During the tests, there will a be a “safety driver” in the automated Chevrolet Bolt EV, but that person will be there only to take over in the event of an emergency. The car will mostly drive on its own. The test program will take place within San Francisco, where Cruise is based. Ford has… Continue reading GM and DoorDash to deliver food in self-driving cars – CNN
Ford recalls over 953K vehicles to replace inflators
Ford recalls over 953K vehicles to replace inflatorsFord is recalling more than 953,000 vehicles worldwide to replace Takata passenger air bag inflators that can explode and hurl shrapnel.
The move includes over 782,000 vehicles in the U.S. and is part of the largest series of recalls in U.S. history.
Included are the 2010 Ford Edge and Lincoln MKX, the 2010 and 2011 Ford Ranger, the 2010 to 2012 Ford Fusion and Lincoln MKZ, the 2010 and 2011 Mercury Milan, and the 2010 to 2014 Ford Mustang.
Some of the recalls may be limited to specific geographic areas of the U.S.
Takata used the chemical ammonium nitrate to create an explosion to inflate air bags. But it can deteriorate over time due to heat and humidity and explode with too much force, blowing apart a metal canister designed to contain the explosion. At least 23 people have been killed worldwide and hundreds injured by the inflators.
Ford says it doesn’t know of any injuries in vehicles included in this recall. Dealers will replace the inflators.
Ford will notify owners about the recall starting on Feb. 18, and the company has replacement parts available for dealers to order, said spokeswoman Monique Brentley. In previous Takata recalls, parts availability had been an issue.
Owners can go to owner.ford.com and key in their vehicle identification number to see if their cars and SUVs are being recalled. The same information will be available soon at nhtsa.gov/recalls.
More than three years after the U.S. National Highway Traffic Safety Administration took over management of recalls involving Takata inflators, one third of the recalled inflators still have not been replaced, according to an annual report from the government and a court-appointed monitor.
The report says 16.7 million faulty inflators out of 50 million under recall have yet to be replaced. And 10 million more inflators are scheduled to be recalled this month, including the Ford vehicles.
Safety advocates said the completion rate should be far higher given the danger associated with the inflators.
The recalls forced Takata of Japan to seek bankruptcy protection and sell most of its assets to pay for the fixes.
The inflators grow more dangerous as they get older because ammonium nitrate deteriorates due to high humidity and cycles from hot temperatures to cold. The most dangerous inflators are in areas of the South along the Gulf of Mexico that have high humidity.
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Diesel scandal: Baden-Württemberg files million suit against VW
VW plant The lawsuit relates to vehicles bought by the state of Baden-Württemberg. (Photo: imago / regios24) StuttgartThe green-black state government demands of Volkswagen for 1400 cars Compensation in the course of the diesel scandal, The announced lawsuit was filed at the end of the year at the district court of Stuttgart, as a spokeswoman… Continue reading Diesel scandal: Baden-Württemberg files million suit against VW
VW increases sales in the US by more than four percent
The car market in the US is causing problems for many manufacturers – but not VW: despite the exhaust gas scandal, the Wolfsburg-based group is significantly increasing its US sales. By contrast, things were worse for Audi and Daimler in 2018. VW boss Herbert Diess at the Detroit Auto Show (January 2018) Friday, 04.01.2019 09:10… Continue reading VW increases sales in the US by more than four percent
Tesla’s Secret Weapon: Intense Focus On Batteries
INSIDE TESLA’S SECRET, INTENSE FOCUS ON BATTERIES By now, regular readers of this column are well aware that we (along with most other writers who focus on electric vehicles) consider the threat of the “Tesla killer” to be no threat at all. Yes, Big Auto is producing excellent EVs, some of which are in Tesla’s league,… Continue reading Tesla’s Secret Weapon: Intense Focus On Batteries
GM’s Cruise partners with DoorDash to test autonomous food delivery
Cruise Automation, the self-driving unit of General Motors, is teaming up with DoorDash to test a food delivery service in San Francisco using autonomous vehicles. The pilot will commence in “early 2019,” the companies said, but it will only be available in the section of the city where Cruise has been testing its vehicles. The… Continue reading GM’s Cruise partners with DoorDash to test autonomous food delivery
Auto marketplace CarDekho grabs $110M to double down on insurance and financial services
CarDekho, an online marketplace for car sales in India, has pulled in a new $110 million Series C funding round from a clutch of existing investors to push deeper into financial services and insurance. Sequoia India, Hillhouse and Alphabet’s CapitalG led the round which also saw participation from Axis Bank, one of CarDekho’s financing partners.… Continue reading Auto marketplace CarDekho grabs $110M to double down on insurance and financial services
Mahindra’s Auto Sector sells 39,755 vehicles during December 2018
Mahindra's Auto Sector sells 39,755 vehicles during December 2018
Witnesses a growth of 13% during the first nine months of FY19
Mumbai, January 1, 2019: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for December 2018 which stood at 39,755 vehicles, compared to 39,200 vehicles during December 2017.
The company's domestic sales touched 36,690 vehicles during December 2018, as against 36,979 vehicles in December 2017. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 15,091 vehicles in December 2018, as against 15,543 vehicles in December 2017.
In the Commercial Vehicles segment, the company sold 16,906 vehicles in December 2018, as against 17,542 vehicles in December 2017. In the Medium and Heavy Commercial Vehicles segment, M&M sold 824 vehicles for the month. Exports for December 2018 stood at 3,065 vehicles, a growth of 38%.
Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We are happy to have ended the first nine months of the year on a positive growth of 13%, and are particularly buoyed by our ongoing strong performance in Exports. However in domestic market, challenges relating to tight liquidity and low buying sentiment continue the de-growth for December. We hope to see good performance in Q4, owing to the anticipated rural demand because of the harvesting season and the launch of our new XUV300 in February 2019”.
Sales Summary December 2018
Category
December
YTD December
F19
F18
% Change
F19
F18
% Change
Passenger Vehicles
15091
15543
-3%
177074
176875
0%
Utility Vehicles
13891
14514
-4%
162949
166110
-2%
Cars* + Vans
1200
1029
17%
14125
10765
31%
Commercial Vehicles
16906
17542
-4%
180399
149359
21%
LCV 3.5T
545
600
-9%
5814
5142
13%
MHCV
824
1193
-31%
8386
6230
35%
3W
4693
3894
21%
48101
38141
26%
Total Domestic Sales
36690
36979
-1%
405574
364375
11%
Total Exports
3065
2221
38%
28343
19512
45%
Total Sales (Domestic + Export)
39755
39200
1%
433917
383887
13%
*Above Domestic Sales Includes sales made in subsidiary company Mahindra Electric Mobility Ltd
About Mahindra
The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
Media contact information
Mohan Nair
Vice President (Communications)
Mahindra & Mahindra Ltd.
Landline – + 91 22 28468510
Email – nair.mohan@mahindra.com