The world’s largest tractor manufacturer is Mahindra & Mahindra. In 2018, Fortune India 500 placed it 17th on a list of the top Indian companies. Tata Motors and Maruti Suzuki are two of its principal rivals in the Indian market. What was formerly a steel trading company has since expanded into the banking, aerospace, and automotive industries. Anand Mahindra is currently in charge of this company. Additionally, he frequently makes headlines with his tweets on various things happening around him. He recently shared a tweet about Eksha Subba. Explore the history of the company here.
Before And After The Independence
K.C., JC Mahindra, and Malik Ghulam Mohammed founded the company during India’s struggle for independence. Additionally, Mahindra & Mohammed was the name of the company then. They used to introduce it in Ludhiana, Punjab, as a steel trading company. The ideologies of Gandhi and Nehru also had a big impact on him. Due to this, Ghulam Mohammad’s name was also one of the founders of the company despite his modest equity in it. Its principal objective was to spread a message of unity among the nation’s citizens. Soon after the establishment of the company, India and Pakistan were also facing their separation.
Ghulam Mohammad also decided to support Pakistan rather than the Company in 1947. In addition, after moving to Pakistan, he was the country’s first finance minister and later was also its governor. The company’s business suffered greatly after Ghulam left India. The topic of changing the company’s name was heavily in discussion. It might be a loss for the company if they changed the name because M&M was printed on all of their products. The name was finally changed from Mahindra & Mohammed to Mahindra & Mahindra by JC Mahindra in 1948. As a result, this enabled the business to maintain its M&M identity.
Success Story Of Mahindra & Mahindra
After independence, the company did not appear to be getting much profit from the steel industry. In the meantime, American industries’ demand for jeeps was rapidly declining as a result of the World War. The remaining vehicles were up for sale to common people by the firm Willy. Seeing this as a perfect opportunity, these two Indian business tycoons traveled to America. A deal was to bring Willy’s Jeep into India. Eventually, the company bought these jeeps and put them for sale in India in 1949. In addition, M&M and Willy signed another agreement in 1959, via which the company obtained the authorization to produce Jeeps in India. As a result, its pricing in India decreased, and it attained 25% of the country’s car market.
Moving on, Mahindra & Mahindra’s shares were approved to trade on the Bombay Stock Exchange for the first time in 1955. The company decided to grow because the share sale increased the company’s capital. Additionally, Mahindra & Mahindra began producing tractors following the success of Jeep. Furthermore, the company produced tools, equipment, and farm machinery in addition to tractors. The company rose to the position of largest tractor manufacturer in the world in less than 20 years after beginning tractor production in 1983. M&M tractors are still present in more than 50 nations today. For the past three decades, they have continued to be the leading tractor manufacturer.
SUV And Airvan By Mahindra & Mahindra
Moving ahead, M&M also opted to provide modern SUV vehicles to the nation and its people in the late 1990s. Maruti and Hyundai cars dominated the Indian market during this time. Moreover, SUV vehicles were also not particularly famous. Bolero was out with modern features and style in the year 2000. It was also the top choice for Indians. The Bolero continues to be one of Mahindra’s best-selling vehicles today. Additionally, M&M’s business empire was not limited to just making jeeps, tractors, or SUVs. In December 2009, they bought a stake in an Australian company that manufactures the Airvan. Today there are over 200 company’s Airvan in service in Australia. It is very useful in extinguishing forest fires and rescuing people and animals. Additionally, many people also call it the SUV of the sky.
India’s First Electric Car
M&M currently has several ambitious goals for electric vehicles. However, their interest in electric vehicles began with the REVAi electric car over ten years ago. In 1994, Chetan Maini started the Reva Electric Car Company. This was out in 2001 and was years ahead of its time. Mahindra & Mahindra bought the Reva Electric Car Company in May 2010. Additionally, they renamed it in 2016. It was distributed in 26 countries, but due to the product’s poor market performance, it was discontinued. The company is currently developing a few new electric vehicles.
M&M Car Sales In India
Mahindra & Mahindra manufactures a wide range of cars. However, car sales fluctuate greatly depending on a variety of conditions. In 2021, the sales of the Bolero car were 65,313. The XUV300 was next on the list, with 47,432 cars. Scorpio was next on the list, selling 36,945 cars. In addition, 32,139 Thar sales were also during this same period. The XUV700 and XUV500 sold 11,964 and 5,321 cars, respectively. Also, Marazzo comes in next with 1816 cars. In 2021, 419 Alturas G4 and 75 KUVs were also sold. The Verito was the one with the fewest sales, with only 23 cars.
M&M has a global presence and exports its products to several nations. It maintains business relationships with overseas firms such as Renault SA of France. Team Marksmen and CNBC TV18 named the company ‘One of the Most Trusted Brands of India 2021.’