Mahindra & Mahindra, India’s largest utility vehicle maker, is planning to ramp up the production of its newly launched compact sports utility vehicle, the TUV 300. The ramp-up comes within two months of its launch, spurred by good response from the market. Having secured over 15,500 bookings over the last two months, several vendors in the know told media that the company has intimated them of a bigger requirement in the coming three months, with plans of ramping up the production to 5500 ~ 6000 units till February. Of the 15,500 bookings, almost 40-45% of them are for the AMT variant (automated manual transmission) variant. The vehicle currently has a waiting period of 4-6 weeks depending on the variant and region.
JET TO BUY 75 BOEING MAX PLANES FOR $8 BN
Naresh Goyal led Jet Airways has announced an order for 75 Boeing 737 Max aircraft at the Dubai Airshow last month. This is the airline’s biggest-ever fleet expansion order, a deal valued at over US$ 8 billion (over INR 53,000 crore) at the list price. The order includes options and purchase rights for an additional 50 aircraft as well. “The new aircraft will support Jet Airways’ replacement strategy and ensure it maintains a modern, environmentally friendly fleet,” said a Jet Airways statement. Jet is apropos the country’s second-largest airline by market share, and currently has a fleet of 115 aircraft. Deliveries from the latest order will begin in 2018. “The transaction will be completely financed and managed through a sale and leaseback arrangement when Jet Airways takes delivery of the aircraft,” the airline shared with media.
VIDEOCON EYES US$ 4 BILLION TURNOVER OVER 4 YEARS
Diversified homegrown firm Videocon is aiming at an annual turnover of US$ 4 billion (around INR 26,000 crore) in the next four years from its consumer electronics division, on the back of product launches and exports growth. The company, which is expecting a turnover of INR 15,000 crore from the vertical this year, is expanding the range of automatic washing machine and frost free refrigerators in the country, which is today dominated by MNCs like LG and Samsung.
LAMBORGHINI LAUNCHES HURACAN LP 580-2 IN INDIA
Luxury Italian sports-car maker Automobili Lamborghini launched its Huracan LP 580-2 in India, priced at INR 2.99 crore (ex-showroom Delhi). “We are delighted to unveil the Huracan LP 580-2 in India within just three days of its global launch,” Lamborghini India Head Pavan Setty said. The model, a two-wheel drive version of the Italian sports car marquee’s popular Huracan coupe, is powered by a 5,204cc engine and is capable of reaching a top speed of 320 km/hr. The Company claims that the new Huracan LP 580-2 can accelerate from 0-100 km/hr in just 3.4 seconds.