Mahindra & Mahindra it has over 160k bookings, Recommendation: BUY
November 27, 2021
Automobiles
/ Mahindra & Mahindra
Auto business In the SUV business, it has over 160k bookings, with XUV700 leading the way with ~70k bookings. Semiconductor shortage led to a loss of 32k units in 2QFY22. While the availability of semiconductors is improving, the situation is dynamic, with visibility only till Dec’21. In the Auto business, it is targeting to be numero uno in the core SUV segment (which is currently 70% of the UV market) by focusing on the authentic SUV portfolio and four core brands (and maybe a new brand for EVs). It plans to launch 13 new SUVs by FY27, including eight new electric SUVs. It is targeting 20% of FY27 volumes from EVs. In the LCV business, the management is focusing on consolidating its rank one position in the sub-3.5t LCV segment. It plans to launch 17 new LCVs by FY26, including eight e-LCVs. It also plans to offer CNG options in 12 LCVs. It would launch a new Pick-up range next year as well as a new platform in the sub-2t segment to address its weakness in this segment. I...