Mahindra and Ford join hands to develop sports SUV

Mahindra & Mahindra, a company engaged in a range of vehicle segments including tractors, has entered into an agreement with Ford India to co-develop midsize sports SUVs.

The agreement would strengthen their strategic alliance in India in the SUV segment. Under this agreement, both the companies will work in collaboration to introduce a standard product for India and the emerging markets.

Earlier in FY19, Mahindra group and Ford had signed an agreement to develop and supply a low-displacement petrol engine for use in Ford’s present and future vehicles, beginning in 2020. Mahindra and Ford also announced joint development of a telematics control unit.

Looking at the sales number of the recent month i.e. March 2019, M&M posted muted sales numbers. It sold 62,952 vehicles during March 2019, showing marginal YoY growth of 1 per cent. It has registered 4 per cent YoY growth in Passenger Vehicles and 4 per cent YoY decline in Commercial Vehicles. Its domestic sales increased marginally by 1 per cent whereas exports jumped by 15 per cent. Under the Farm equipment division, domestic sales increased by 4 per cent whereas exports declined 12 per cent.

On Thursday, the stock of M&M opened at Rs. 690 per share and made an intraday high and low of Rs. 691.15 and Rs. 682, respectively on the BSE. At 14:43 hours, the stock was trading at Rs. 682.60, down by Rs. 0.68 per cent on the BSE.