Is Mahindra in trouble?

[Togo]

Since Mahindra already has a side by side line sold by tractor dealers why didnt they just sell the Roxor through them also. Never understood that. Everything was already in place.

 

[Campyman]

No offense Campyman, but you sound like you're wound a little tight. Maybe a nice long quiet drive in your Roxor. Oh, and stop watching the news. Your blood pressure will go way down. ?

Thanks for the advice Vinny I was actually doing ok, but then I got wound up with Bister when he misrepresented to the group that I thought Mahindra might leave the US "without any facts of course". I can't tolerate people saying things that are untrue and so I gave him what had earned. You're also right that news media get's people really upset, they do this by design. However I can't even leave my house right now. The air quality index is at 299, which is VERY UNHEALTHY. My kid's birthday was yesterday and he couldn't even go outside because of the smoke from all the fires. I don't have to watch the news to see what's happening on the West Coast.

 

[Campyman]

So just my 2 cents in the last share holder meeting which I attended, mahindra announced that they will lean out their investments in under performing markets. South Korea, ?? and Australia were among them especially covid has hit them hard.

They put up their ssangyong vehicles up for sale, backed out of the usps truck contract, furloughed half of the mana work force, Kyle Maki including... to who ever thinks mana is not in trouble is I would say.. common its pretty evident. Overall they are doing ok and hoping to cash in on some sales on new wranglerish thar in india. But they want to cut their losses and in the report they showed in North America they were losing money fast so... they are in lean mode.. workforce cut. They mentioned they will cut investment into North America but did not specified by how much..may be just the designers and engineers planning on 2021 model but I will be very frank things are sketchy.

This is very helpful to know. Did they release any P and L reports for 2019, and 2020 for Mahindra Automotive North America???? It would be useful to quantify their financials. I'm not certain but I think last I read they had sold about 3000 Roxors. If they made around $3000 of each unit that means they've only taken in less than a million in 2 years. I'm sure they spent more than that on legal costs.......

 

[Campyman]

He can't, he doesn't even own one anymore, he sold his last year cause he didn't want to get stuck with a unit he couldn't get parts for.

Looks like you're doing a much better job quoting people Bister. I'm glad everyone here was able to help you stop spreading false statements

 

[BDRAG]

It would be interesting to see them test, track and report on the flu like they are covid.

I bet if the nation wears the masks like the Chinese have and do, wash you hands more and distance, I bet the flu rate would drop substantially.

BDRAG

 

[Bhayarock]

This is very helpful to know. Did they release any P and L reports for 2019, and 2020 for Mahindra Automotive North America???? It would be useful to quantify their financials. I'm not certain but I think last I read they had sold about 3000 Roxors. If they made around $3000 of each unit that means they've only taken in less than a million in 2 years. I'm sure they spent more than that on legal costs.......

Well they reported a loss of 371% which may be ok if they are new.. but covid cut into their pockets.. thats the problem.
The report here is till March 2020, so the worst part is not reported here. They had a review for 2021 strategy in August that where they decided on investment cuts

https://www.mahindra.com/resources/investor-reports/FY20/Announcements/MM-Integrated-Annual-Report-2019-20.pdf

See page 380
I dont blame mahindra completely..north America is a tough market and than you have judgement siding with fiat and covid paralyzing the whole logistics from India to US.. kind of double whammy for them.
They literally got rid of some models at 11k and I am pretty sure after imports duties, international shipping of ckds, assembly labour and taxes it would be close to the cost price to manufacturer..so can't blame them.

 

[Togo]

Is it possible to determine if the plant is still open in Michigan?

 

[Bister]

Thanks for the advice Vinny I was actually doing ok, but then I got wound up with Bister when he misrepresented to the group that I thought Mahindra might leave the US "without any facts of course".

You don't have any facts, your feelings and opinions are not 'facts' or an 'over whelming mountain of evidence' no matter how many times you repeat it. You have no facts that Mahindra is leaving North America, they might, but you have no facts that they are.

Have a good day sir....and since you no longer own a Roxor, maybe have a Snickers also.

 

[Darstar]

My local dealer is convinced there will be a 2021 Roxor...........What he is not sure of is just when that will be...........

 

[Spanky]

You don't have any facts, your feelings and opinions are not 'facts' or an 'over whelming mountain of evidence' no matter how many times you repeat it. You have no facts that Mahindra is leaving North America, they might, but you have no facts that they are.

Have a good day sir....and since you no longer own a Roxor, maybe have a Snickers also.

Have a coke, a smile and shut the f&%k up! LOL..... If you no longer own a Roxor why stay on here? Some people's children!

 

[Campyman]

Well they reported a loss of 371% which may be ok if they are new.. but covid cut into their pockets.. thats the problem.
The report here is till March 2020, so the worst part is not reported here. They had a review for 2021 strategy in August that where they decided on investment cuts

http://[URL]https://www.mahindra.co...ments/MM-Integrated-Annual-Report-2019-20.pdf

[/URL]

See page 380
I dont blame mahindra completely..north America is a tough market and than you have judgement siding with fiat and covid paralyzing the whole logistics from India to US.. kind of double whammy for them.
They literally got rid of some models at 11k and I am pretty sure after imports duties, international shipping of ckds, assembly labour and taxes it would be close to the cost price to manufacturer..so can't blame them.

View attachment 7570
Everything you're saying is making perfect sense. Over here Mahindra was downplaying the judgement against them in favor with FCA. But it's a much bigger deal. It's not just that Mahindra was ordered to stop production and sales last month. They cannot even release a new vehicle unless the State gives them the go ahead now. Hypothetically if MANA invests in a new body style the State might just prevent the release anyway because they can. Meanwhile MANA could also see additional litigation against them from FCA for violating their patents. I might have read there's already several cases filed for this reason but I'm not sure. It sounds to me like Mahindra would have to pump at least $50 million into MANA just to see them through the next couple of years. If they were clearing $3000 at best from each vehicle they'd have to sell roughly another 18,000 units just to break even and at this pace and that could take 5 years. It would be hard to convince shareholders this is worthwhile since they generally want to see returns a lot faster than that.

Thanks for sharing. Like everyone else on this site I really liked the product. My grandfather told me countless stories of the jeeps he drove during WW2 and I wish he could have had a chance to drive a Roxor, but sadly he passed a short time before they were released.

 

[Bister]

Have a coke, a smile and shut the f&%k up! LOL..... If you no longer own a Roxor why stay on here? Some people's children!

I still have a Roxor. It’s not going anywhere. Campyman jumped ship and sold his last year.

 

[Spanky]

I still have a Roxor. It’s not going anywhere. Campyman jumped ship and sold his last year.

I feel the same way. I wouldn't trade mine for a gold monkey!

 

[Bhayarock]

My local dealer is convinced there will be a 2021 Roxor...........What he is not sure of is just when that will be...........

Pretty sure there will be a 2021 but best guess is wont be before the elections in November or may be even later, subject to their overall financial health and covid situation improvement.
I seriously feel mahindra needs a partner in NA if they are serious about making a presence in their non tractor business.

 

[Darstar]

Harley Davidson ?

 

[Collin S.]

My direct contact at Mahindra North America is still employed and tells me they absolutely want to be in the US and are coming back stronger then ever.

 

[Colderweather86]

Harley Davidson ?

H-D is hurting by themselves. I don't think they have the capital to pick anything up

 

[Bister]

My direct contact at Mahindra North America is still employed and tells me they absolutely want to be in the US and are coming back stronger then ever.

Well, this is their second go around at it, if this round into North America doesn't go in their favour, not sure they would get a 3rd chance at it. They might have to invest a bit more to take a good crack at it, which sucks for everyone; especial them. To bad Covid got rolled into the mix, that *hit ain't helping anyone.

 

[SMF]

Well, this is their second go around at it, if this round into North America doesn't go in their favour, not sure they would get a 3rd chance at it. They might have to invest a bit more to take a good crack at it, which sucks for everyone; especial them. To bad Covid got rolled into the mix, that *hit ain't helping anyone.

Any sales outfit which cannot supply product is by definition in trouble. In Roxor's case, the unavailability of basic accessories like filters further cranks up the rumor mill. If customers must ask whether there will be a 2021 model or whether the factory is still open, might indicate that MANA's mysterious marketing strategy is lacking and that the PR department has left the building -- unless, of course, none of them know themselves about Rpxor going forward. Regardless, in addition to Mahindra's financial situation, the plight of India's transportation sector, the FCA lawsuit, a worldwide pandemic, etc., must be added a heaping tablespoon of good old fashioned bumbling. Some straight talk from the source could end the speculation, but, more likely, time will tell first. Should we all end up owning out-of-production automotive rarities, well there could have been worse outcomes......and Roxor probably still beats any of our previous UTVs.

 

[Darstar]

I just bought a new tractor. After much consideration I decided not to buy a Kabota,John Deere , LS ,New Holland ,Bobcat , Mahindra, I went with Yanmar, the biggest model available in NA. ( they supply engines to JD,have for years ) . Yanmar is a very old company in Japan, mostly known for their marine power around the world. They merged with Cub Cadet for a short time, not a good fit. Could they be ripe for a merger with MNA .?