Grab Savings Of Up To Rs 3.01 Lakh On A Mahindra Car This June
- Jun 13, 2021
- Views : 3407
After facing severe losses, the Mahindra Group has announced its decision to stop investing in the SsangYong brand which was struggling to generate revenue for the company. The Mahindra Group is now actively looking for a new investor and is ready to forego complete ownership of the South Korean brand.
Mahindra made this important decision while announcing its operating profits for FY 2020 which stood at Rs 5,402 crore, 23 per cent down when compared to the previous year. The reason for such a steep loss is low volumes, BS6 transition and COVID-19 impact. The loss-making Ssangyong brand was also providing severe headwinds for profit driveability.
Mahindra currently has a 75 per cent stake in the South Korean company and has stopped infusing fresh capital in it. Once a new investor comes in, the carmaker could slowly start diluting its stake in the company. It has also announced that it’s willing to let go of complete ownership.
the automobile community
What does this mean for the older SsangYong Rexton as well as the platform shared XUV300 and Alturas G4 customers? Rexton owners won’t face any issues as manufacturers are required to supply spare parts even after a vehicle has been discontinued, while the other two are already Mahindra-branded products. Moreover, given the numerous projects that Mahindra and SsangYong have worked on, we expect them to continue collaborating in the future even if the latter has a new parent company.
Grab Savings Of Up To Rs 3.01 Lakh On A Mahindra Car This June
Save Up To Rs 3.06 Lakh On A New Mahindra This February
Save Up To Rs 3.06 Lakh On Mahindra Cars This January
After The Ford Endeavour, We Now Bid Goodbye To Another Full Size...
Mahindra Alturas G4 Gets New 2WD Variant With All Bells And Whistles
Mahindra Temporarily Halts Bookings Of The Alturas G4 4X2 Variant
Updated SsangYong Rexton Images Leaked; Previews Upcoming Mahindra...
Is The SsangYong Rexton Facelift Teaser A Sign Of Things To Come For...
Top 5 Car News Of The Week: Datsun redi-GO Facelift Teased, Mahindra...
India's largest automotive community