Introduction Consumer Satisfaction

INTRODUCTION

CONSUMER SATISFACTION

MEANING

CONSUMER satisfaction means taking complete care of CONSUMER by giving them complete knowledge about the product and about all the feature of that particular product

CONSUMER satisfaction is the end result of your interaction with the CONSUMER.

By giving the best CONSUMER service and making sure that the CONSUMER was given the best resolution at the end of the call, then we can say that the CONSUMER is satisfied even if it's not verbally said.

According to me CONSUMERs are those who pay (salary). Satisfaction is the key to hold the CONSUMER for future business. Complete knowledge must be given; each and every query must be clarified by the seller. If a CONSUMER remembers you for future business then we can say that CONSUMER is satisfied.

DEFINITION

According to Harold E Edmondson “CONSUMER satisfaction” is defined as "the number of CONSUMERs, or percentage of total CONSUMERs, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals.".

CONSUMER satisfaction is defined by whether the CONSUMER chooses to do business with you or your company in the future. Many factors play a role in CONSUMER satisfaction, including CONSUMER service, product quality and the ease of doing business.

Companies must consider CONSUMER satisfaction as an important role in the lifetime value of a CONSUMER.

CONSUMER satisfaction, a term frequently used in marketing, is a measure of how products and services supplied by a company meet or surpass CONSUMER expectation. In a survey of nearly 200 senior marketing managers, 71 percent responded that they found a

CONSUMER satisfaction metric very useful in managing and monitoring their businesses.

It is seen as a key performance indicator within business and is often part of a Balanced

Scorecard. In a competitive marketplace where businesses compete for CONSUMERs,

CONSUMER satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.

SEVEN STEPS:

 Encourage face-to-face dealings.

 Respond to messages promptly and keep yours clients informed.

 Be friendly and approachable.

 Have a clearly-Defined CONSUMER service policy.

 Attention to details.

 Anticipate your client‟s needs and go out of your way to help them out.

 Honor your promise

MEANING OF CONSUMER SERVICE

Serving your CONSUMER with a smile on your face, even when things don‟t go right.

DEFINITION OF CONSUMER

 A person, company or other entity which buys goods and services produced by

another person, company or other entity.

 One who regularly or repeatedly makes purchases of a trader, a purchase a buyer.

DEFINITION OF CONSUMER SERVICE

According to Jack Speer “Excellent CONSUMER service is the process by which your organization delivers its services or products is way that allows the CONSUMER to access them in the most efficient, fair, cost effective and humanly satisfying and pleasurable manner possible”.

CONSUMER service is a common term we are familiar with which means one who aids or provides helps to the purchase of goods and service.

SIX COMPETITIVE ADVANTAGES THROUGH CONSUMER SATISFACTION:

Customer satisfaction

Repeat Higher Loyalty Word or One stops New buying price in crises month shopping product innovation

Profit Corporate Growth performance

ADVANTAGE

CONSUMER comments, suggestions and response about a company‟s products, business practices and CONSUMER service orientation are one of the biggest advantages of

CONSUMER feedback surveys. Critical input and answer can help a company to develop better

CONSUMER relation programs.

DISADVANTAGE

CONSUMER feedback surveys and questionnaires can sometimes be too scientific and methodical to capture to humane instincts and traits of consumer. Rigorous analysis and interpret ion of feedback and answers provided by CONSUMERs might not provide the right kind insights that business not to better serve CONSUMER.

IMPORTANCE

Since sales are the most important goal of any commercial enterprise. It become necessary to satisfy CONSUMER for CONSUMER satisfaction it is necessary to establish and maintain certain important characteristics like:

a) Quality

b) Fair prizes

c) Efficient delivery

d) Good CONSUMER handling skills

e) Serious consideration of consumer complaints

Satisfaction is the feeling of pleasure or disappointment attained from comparing a product perceived performance (outcome) in relation to his or her expectations. The

CONSUMER is dissatisfied. If the performance matches the expectation, the CONSUMER satisfied. If the performance exceeds expectations the CONSUMER is highly satisfied.

BENEFITS

Increasd Increased Revenue repeat Customer satisfaction Reduced purchase Cost

Reduced Increased reduced price switching to referrels sensitivity competitors

Increased profit

SCOPE OF THE STUDY

1. The Research was carried out to find the factors which influence CONSUMER

Satisfaction level to a maximum level.

2. The study projects that CONSUMER Satisfaction level change with the change in various

factors like evaluating and change during the delivery of vehicles and after sale

evaluation.

3. The study mainly on Mahindra XYLO Car with the comparison brought out which shows

the range of R15.

4. This research is an attempt to provide feedback to Mahindra Car and the showroom

dealers, so that they can bring out changes in various department of their organization

that which will help them in becoming a number 1 motorcycle brand company in India.

5. The study here targets on CONSUMER Satisfaction towards Two-Wheeler specifically

related to Mahindra XYLOwhich is obtained from the survey.

6. The study underwent is related to urban areas and semi-urban areas at Chithradurga town.

OBJECTIVES OF THE STUDY

1. To Study about Mahindra AC Motors.

2. To Study the CONSUMER Preference towards Mahindra Xylo Car.

3. To Evaluate the Satisfactory level of CONSUMERs towards Mahindra Car with special

reference to Mahindra Xylo Car.

4. To analyze the performance of Mahindra Xylo Car.

5. To Study about the factors influencing the selection of R15 Cars.

6. To Identify and analyze the Comparison between Maruthi and Tata Super Cars.

7. To Study the Survey result and provide some Valuable Suggestion for the better Sale of

Mahindra Xylo Car.

LIMITATIONS OF THE STUDY

1. Present research is geographically restricted to Chithradurga town only. Hence the result

cannot be exploited to other places.

2. One of the biggest limitations with the project work is the Time factor.

3. Another limitation was with the Language. Since the people I interviewed were both

literate and also illiterate there was a problem in language in making them understand.

4. The sample size is small due to insufficient time allotment.

5. The seriousness of the respondent and the ability to justify the answers were also one

among the limitations.

6. The study is restricted only to the organized sector of two-wheeler industry.

RESEARCH METHODOLOGY

MEANING OF RESEARCH

 Research is composed of two syllables, a prefix re and a verb search.

 Re means again, anew, over again.

 Search means to examine closely and carefully, to test and try, to probe.

 The two words form a noun to describe a careful and systematic study in some field of

knowledge, undertaken to establish facts or principles.

 Research is an organized and systematic way of finding answers to questions.

RESEARCH DEFINITION

"Research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue". It consists of three steps: Pose a question, collect data to answer the question, and present an answer to the question.

-“Creswell”

RESEARCH PROCESS

 Choosing the research problem

 Review of related literature

 Collection of data

 Interpretation of data

 Preparing the research report

METHODS OF RESEARCH

 Historical method: to reconstruct the past objectively and accurately, often in relation to

the tenability of a hypothesis.

 Descriptive method: to describe systematically a situation or area of interest factually

and accurately.

 Developmental method: to investigate patterns and sequences of growth and/or change

as a function of time.

RESEARCH METHODOLOGY

Procedures used in making systematic observations or otherwise obtaining data, evidence, or information as part of a research project or study (Note: Do not confuse with

"Research Design," which refers to the planning and organization of such procedures).

 Objective and the purpose of the study  To understand the CONSUMER satisfaction level of Mahindra Xylo Car  Features and the benefits of the Two-Wheeler considered as important factor of CONSUMER satisfaction.  To know people perception towards R15available.

SIGNIFICANCE OF THE STUDY

 Variables under study

- Dependent variable : CONSUMER satisfaction.

- Independent variable : price, after sales services.

DEFINITION OF RESEARCH DESIGN

"A research design is the determination and statement of the general research approach or strategy adopted/or the particular project. It is the heart of planning. If the design adheres to the research objective, it will ensure that the client's needs will be served."

-David J. Luck and Ronald S. Rubin

DESIGN

Types of Research Design Exploratory Research Design Source of Data - Primary data : Survey method - Secondary data : Internet, Magazines, News papers Research Equipment Questionnaire Sampling Technique Non Probability Technique – Random Convenience sampling method Sample Size 50 Samples with 2 Dealer services Area of Research Chithradurga

DESCRIPTIVE RESEARCH

This method is undertaken when the researcher is interested in knowing about the characteristics of certain groups such as age, sex, educational level, income, the relationship between two or more variable.

This method was the most suitable in my research work

DATA COLLECTION

There may be different types of information and data, some of the information may be unpublished, some is complete and some is incomplete, some is reliable data and some is based, it is necessary for researcher to know the information which is usually employed in marketing research work and the types of sources from which it is generally collected. The research problem decides the nature of the sources of data. They may be ,

1. Primary data

2. Secondary data

METHODS OF DATA COLLECTION

There are two methods of data collection.

1. Internal sources

2. External sources

INTRNAL SOURCES

Internal sources are all the companies own records, registers, documents, etc.

EXTERNAL SOURCES

All other sources of information are external sources of data. Another was of classifying the sources of information.

1. Primary data

2. Secondary data

1. PRIMARY DATA

Primary data is being collected during the course of asking questions by performing surveys. Primary data is obtained either through respondent, either through questionnaire or through personal interview.

I have collected the data through both personal interview and questionnaire.

2. SECONDARY DATA

Secondary data are the data already available in the form of print material, website, journals, etc; I have used some magazines, news papers, websites and course materials for that purpose.

RESEARCH TOOL

I have used the structured questionnaire in my research process which has carefully designed keeping the entire objective in mind.

SAMPLING PLAN

The process of collecting observation from the elements of a large population may be expensive, time consuming and difficult. It will be cheaper and quicker to collect information from a sample plan of the population.

A sample is a subset of population through a valid statistical procedure so that it can be regarded as representative of the entire population. The valid statistical procedure of drawing sample from the population is called sampling. Sampling plan consists of the following elements:

SAMPLE UNITS

My sample units were,

 Dealers

 Service center

 CONSUMERs

SAMPLE FRAME

The entire list of sample unit is known as sample frame. In this project my sample frame was Chithradurga town.

SAMPLE SIZE

In this project being aware of time and cost constraints sample size was limited to 2 dealers and 50 CONSUMERs.

SAMPLE METHOD

In my research I have used Convenient Sampling.

CONTACT METHOD

Contact method used in this project is personal interview. The methods of collecting information through personal interviews are usually carried out in a structured way.

FIELD SURVEY

I have started the survey for accuracy of data I picked my sampling unit from some parts of the city and then went on to analysis and report making part.

CHAPTER - 2 INDUSTRY PROFILE Mahindra Group

From Wikipedia, the free encyclopedia Mahindra Group

Type Private

Industry Conglomerate Founded 1945 Jagdish Chandra Mahindra Founder(s) Kailash Chandra Mahindra Ghulam Mohammed Headquarters Mumbai, Maharastra, India Area served Worldwide Anand Mahindra (Chairman & Managing Director) Key people Keshub Mahindra (Chairman Emeritus) Aerospace, aftermarket, agribusiness, automotive, components, construction equipment, consulting services, defence, energy, farm Products equipment, financial services, industrial equipment, information technology, hospitality, logistics, retail, real estate Revenue US$ 15.9 billion (2011)[1] [2]

Profit US$ 373 million (2009) Employees 155,000 (2012)[2] Mahindra & Mahindra, SsangYong Motors, Mahindra Aerospace,

Subsidiaries Mahindra Engineering Services, Mahindra & Mahindra Financial Services Limited,

Mahindra Systech, Tech Mahindra, Mahindra Satyam, Mahindra Lifespace Developers, Mahindra Ugine Steel Company Mahindra First Choice Services,

Website www.mahindra.com

The Mahindra Group (Devanagari: ) is an Indian multinational conglomerate headquartered at Mahindra Towers in Mumbai, India, with operations in over 100 countries across the globe. The group has a presence in aerospace, agribusiness, aftermarket, automotive, components, construction equipment, defence, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail, and two wheelers. It is considered to be one of the most reputable Indian industrial houses[3] with market leadership in utility vehicles[4] as well as tractors in India. Contents

 1 History  2 Major Business Ventures  3 Community Initiatives  4 Leadership  5 See Also  6 References  7 External links History

Mahindra & Mahindra was originally incorporated in 1945 by the brothers J.C. Mahindra and K.C. Mahindra and Malik Ghulam Muhammad in Ludhiana, Punjab to trade steel. Following the Partition of India in 1947, Malik Ghulam Muhammad left the company and emigrated to Pakistan where he became the first finance minister of the new state (and later the third Governor General in 1951). In 1948, K.C. Mahindra changed the company's name to Mahindra & Mahindra.

Building on their expertise in the steel industry, the Mahindra brothers began trading steel with UK suppliers. They also won a contract to manufacture Willys Jeeps in India and began producing them in 1947. By 1956, the company was listed on the Bombay Stock Exchange, and by 1969 the company had entered the world market as an exporter of utility vehicles and spare parts.[5] Like many Indian companies, Mahindra responded to the restrictions of the Licence Raj by expanding into other industries. Mahindra & Mahindra created a tractor division in 1982 and a tech division (now Tech Mahindra) in 1986. It has continued to diversify its operations ever since through both joint ventures and greenfield investments.[6]

By 1994, the Group had become so diverse that it undertook a fundamental reorganization, dividing into six Strategic Business Units: Automotive; Farm Equipment; Infrastructure; Trade and Financial Services; Information Technology; and Automotive Components (known internally as Systech).[7] The new Managing Director, Anand Mahindra, followed this reorganization with a new logo in 2000 and the successful launch of the Mahindra Scorpio (a wholly indigenously designed vehicle) in 2002. Together with an overhaul in production and manufacturing methods, these changes helped make the company more competitive,[8] and since then the Group's reputation and revenues have risen noticeably. Currently, Mahindra & Mahindra is one of the 20 largest companies in India [9] In 2009, Forbes ranked Mahindra among the top 200 most reputable companies in the world.[10]

In January 2011, the Mahindra Group launched a new corporate brand, Mahindra Rise, to unify Mahindra's image across industries and geographies.[11] The brand positions Mahindra products and services as aspirational, supporting customers' ambitions to 'Rise.'

In April 2012, the Mahindra Group showed interest in purchasing the bankrupt automobile company Saab, and actually placed several bids for Saab, though was outbid by Saab's new owner National Electric Vehicle Sweden.[12]

Mahindra Group Old Logo



Major Business Ventures

 Aerospace

 Mahindra Aerospace  GippsAero  Aerostaff Australia

 Aftermarket

 Mahindra First Choice

 Agribusiness

 Mahindra Shubhlabh

 Automotive

 Mahindra & Mahindra (Automobile Manufacturer)  Mahindra Truck & Bus

 Mahindra Reva  SsangYong Motors  Mahindra Two Wheelers

 Components

 Engines Engineering  Mahindra Castings  Mahindra Composites  Mahindra Engineering  Mahindra Gears and Transmissions  Mahindra Forgings  Mahindra Hinoday Ltd  Mahindra Intertrade  Mahindra Sona Ltd.  Mahindra Steel Service Centre  Mahindra Systech  Mahindra Ugine Steel  Metalcastello S.p.A

 Consulting

 Mahindra Consulting Engineers  Mahindra Logisoft  Mahindra Special Services Group

 Defence

 Mahindra & Mahindra - Millatary Defence Division  Defence Land Systems

 Education

 Mahindra United World College of India  Mahindra École Centrale

 Energy

 Mahindra & Mahindra - Energy Division  Mahindra Solar One  Mahindra EPC Services Pvt. Ltd. [13]

 Hospitality

 Club Mahindra  Mahindra Holidays and Resorts

 Industrial Equipment

 Mahindra Conveyor Systems

 Information Technology

 Tech Mahindra  Mahindra Satyam  Mahindra Comviva  Bristlecone  CanvasM

 Farm Equipment

 Mahindra & Mahindra - Farm Equipment Division  Mahindra (China) Tractor Co  Mahindra USA Inc  Mahindra Yueda (Yancheng) Tractor Co  Mahindra Tractors  Mahindra Gujarat  Jiangling Tractors

 Financial Services

 Mahindra & Mahindra Financial Services Limited  Mahindra Insurance Brokers  Mahindra Rural Housing Finance

 Logistics

 Mahindra Logistics

 Luxury Boats

 Mahindra Ocean Blue

 Real Estate

 Mahindra Lifespaces  Mahindra World City

 Retail

 Mahindra Retail

 Sports

 Mahindra Racing  Mahindra-NBA Partnership  Mahindra-Celtic Football Club Partnership

 Defunct

 Mahindra Renault  Mahindra United FC Community Initiatives

The Mahindra Group is extensively involved in philanthropy and volunteering. It is considered an active participant in the Indian Corporate Social Responsibility field and received the Pegasus Award for CSR in 2007.[14] Mahindra engages in philanthropy primarily through the KC Mahindra Trust, which serves as the CSR arm of the group (although many subsidiaries have their own CSR initiatives, notably Tech Mahindra and Mahindra Satyam).[15] Founded in 1953 by K.C Mahindra, the trust focuses primarily on fostering literacy in India and promoting higher learning through grants and scholarships.[16] Mahindra operates several vocational schools as well as the Mahindra United World College.[17] The KC Mahindra Trust‟s primary project however is Project Nanhi Kali, which targets the education of young Indian girls.[18] The foundation currently supports the education of approximately 51000 underprivileged girls.[19] Other initiatives include Mahindra Hariyali (a 1 million tree planting campaign)[18] as well as sponsorship of the Lifeline Express, a mobile hospital train. Mahindra employees also plan and lead their own service projects through Mahindra‟s Employee Social Options Plans. In 2009, more than 35,000 employees participated.[20]

The Mahindra Group was responsible for the creation of Mahindra United World College, a UWC campus located in Pune.

Mahindra also supports the Mahindra Excellence in Theatre Awards to recognize Indian theater talent, the Mahindra Indo-American Film Festival, and the Mahindra Lucknow Festival. In 2011, it held the first annual Mahindra Blues Festival with guests like Buddy Guy, Johnny Lang, and Shemekia Copeland at the Mehboob Studios in Mumbai.[21] Mahindra also partners with the NBA and Celtic Football Club to bring grassroots basketball and soccer to India.[22] Leadership

Keshub Mahindra, the Chairman Emeritus of Mahindra & Mahindra, is a graduate of Wharton Business School, University of Pennsylvania, USA. He joined the company in 1947 and became the chairman in 1963.

During his career he held many key positions, served on the Board of Directors of several organisations, and continues to be a member of many organizations and committees. He has also held many other important positions, such as Chairman of Bombay Chamber of Commerce and Industry (1966–67), President of ASSOCHAM (1969–70), Chairman of the Indian Institute of

Management, Ahmedabad (1975–85); Member of the Foundation Board - International Management Institute, Geneva (1984–89); Chairman, India Nominating Committee 'Single Nation Programme', Eisenhower Exchange Fellowships, USA (1998–2005).

Over the years, he has also received numerous awards, including: NIF-Mody Enterprises Man of the Year Award (1980), Giants International Business Leadership Award (1972–82), Madras Management Association Business Leadership Award (1983), Companion - British Institute of Management(1985), Chevalier de la Légion d'honneur (1987), Business India - Businessman of the Year(1989), Honorary Fellowship of All India Management Association (1990), Institute of Company Secretaries of India (ICSI) Lifetime Achievement Award for Excellence in Corporate Governance (2004), Lakshya Business Visionary Award - NITIE (2006), ICFAI Business School (IBS) Kolkata Lifetime Achievement Award presented by the Institute of Chartered Financial Analysts of India (ICFAI)(2007)[23]

Mr. Keshub is a "philanthropist who redefined corporate governance by effectively channelising funds into the social sector," notes the group's website.

A blip to the prestigious life and career is the chapter of Union Carbide India Ltd. (of which he was then the chairman) and the Bhopal Gas Tragedy. After the Bhopal Gas Tragedy he was charged and indicted (2010) for causing death due to negligence and sentenced to 2 years' imprisonment and Rs 1 Lakh fine. He was granted bail shortly after being sentenced. [24] [25] [26]

Anand Mahindra is Chairman and Managing Director of Mahindra & Mahindra. He graduated magna cum laude from Harvard University and earned his MBA from Harvard Business School in 1981.[27] He joined the Mahindra Group in 1981 as an Executive Assistant to the Finance Director of the Mahindra Ugine Steel Company. His leadership has helped make Mahindra a global company and strong competitor since India's economic liberalization in 1991.[28] Anand is a notable public figure with a considerable following on Twitter and serves on many boards and committees.

Company Profile

Mahindra & Mahindra Ltd is an India-based company. The company operates in nine segments: automotive segment comprises of sales of automobiles, spare parts and related services; farm equipment segment comprises of sales of tractors, spare parts and related services; information technology (IT) services comprises of services rendered for IT and telecom; financial services comprise of services relating to financing, leasing and hire purchase of automobiles and tractors; steel trading and processing comprises of trading and processing of steel; infrastructure comprise of operating of commercial complexes, project management and development; hospitality segment comprises of sale of timeshare; Systech segment comprises of automotive components and other related products and services, and its others segment comprise of logistics, after-market, two wheelers and investment. Mahindra & Mahindra Ltd was incorporated on October 2, 1945 with the name Mahindra & Mohammed Ltd. The

19 company was renamed as Mahindra & Mahindra Ltd in the year 1948. The steel trading business was commenced in association with suppliers in UK. In the year 1950, the company commenced the first business with Mitsubishi Corporation and 5000 tons of wagon building plates from Yawata Iron & Steel were supplied. In the year 1953 Otis Elevator Company (India) was established. A joint venture was made with Rubery Owen & Company Limited, UK and established a company under the name of Mahindra Owen. The company's Machine Tools Division was commenced its operations in the year 1958. In the year 1960, Mahindra Sintered Products Limited was established based on a joint venture with Bir Field (GKN Group, UK). In the year 1962, Mahindra Ugine Steel Company was established as a joint venture between the company and Ugine Kuhlmann, France. In the year 1963, International Tractor Company of India was established as a joint venture with International Harvester Company, USA. In the year 1965, the company entered into light commercial vehicles segment. They established Vickers Sperry of India Ltd, a joint venture with Sperry Rand Corporation, USA. In the year 1969, the company entered the world market with export of utility vehicles and spare parts. In the year 1977, International Tractor Company of India merged with the company and became its Tractor Division. In the year 1982, Mahindra brand of tractors were launched and also became the market leader in the Indian tractor market. In the year 1991, the company introduced commander range of vehicles in the market. Also, they established Mahindra Financial Services Ltd as a wholesale fund provider. In the year 1995, Mahindra Holding & Finance Limited became a subsidiary of the company to carry out business as an investment company. The company made a technical collaboration with Mitsubishi / Samcor to manufacture the Mitsubishi L300. In the year 1996, Mahindra Ford India Limited was established, a joint venture with Ford Motor Company, USA, to manufacture passenger cars. In the year 1999, the company acquired a major stake in Gujarat Tractors and renamed it Mahindra Gujarat Tractors Ltd. Also, Mahindra & Mahindra Financial Services Ltd became a subsidiary of the company. In the year 2000, the company set up their first satellite tractor plant at Rudrapur. They launched a new age tractor, Mahindra Arjun 605 DI (60 HP) in the market. Also, they launched Bolero GLX (a utility vehicle) launched in response to the needs of urban consumers. In the year 2001, the company launched Champion, a 3-wheeler diesel vehicle. They launched Mahindra MaXX, a multi-utility vehicle positioned with the caption 'Maximum Space, Maximum Comfort'. They made a tie up with Renault for Petrol Engines. In the year 2002, the company launched Scorpio, a new generation, world-class sports utility vehicle. In the year 2003, they launched Invader, a sporty open top vehicle and MaXX Pik Up. They set up second tractor assembly plant in USA. They ventured into Industrial engine business. Also, they launched India's first Turbo tractor, Mahindra Sarpanch 595 DI Super Turbo. In the year 2004, the company launched Bolero and Scorpio in Latin American, Middle East and South African markets. They signed an MoU to enter into joint venture with Jiangling Motor Company Group (JMCG) of China, to acquire tractor manufacturing assets from Jiangling Tractor Company, a subsidiary of Jiangling Motor Company Group. In the year 2005, the company acquired 51% stake in SAR Transmission Private Limited, a company engaged in manufacture of gears and transmission shafts. The company became the became the first Indian auto manufacturer to launch the Common Rail Diesel Engine (CRDe), offering it in the Scorpio. They acquired 80% stake in the joint venture with Jiangling Motors i.e. in Mahindra (China) Tractor Company. They established Mahindra Renault Ltd, a joint venture with Renault to manufacture and market Logan, a mid-sized sedan, in India. Also, they established Mahindra International Ltd, a joint venture with International Truck and Engine

Corporation to manufacture trucks & buses in India. In the year 2006, the company acquired the Stokes Group of UK, the largest automotive forgings company in the UK. They launched the Scorpio V-series. In July 2007, the company launched the Mahindra Pik-Up (double cab) in Chile. In November 1, 2007, a wholly owned affiliate of Navistar International Corporation signed a joint venture agreement with the company to produce diesel engines for medium and heavy commercial trucks and buses in India. In the year 2008, the company introduced FuelSmart system in Bolero and Scorpio SUVs. They entered into JV with TMI Pacific in Australia. In the year 2009, the company launched Xylo. Also, they launched New, Mighty Muscular Scorpio in the market. During the year 2009-10, the company hived off Mahindra Defence Systems Division into a wholly owned subsidiary, Mahindra Defence Land Systems Pvt Ltd (now rechristened as Defence Land Systems India Pvt Ltd) with effect from July 1, 2009. Also, the company signed a joint venture agreement on November 30, 2009 with BAE Systems Plc. to form a 74:26 Joint Venture for defence land systems products. The company divested 46.66% of the equity share capital in Mahindra Gears & Transmissions Pvt Ltd in favour of ICICI Venture Fund. As per the scheme of arrangement between the company and Mahindra Shubhlabh Services Ltd, the Agri Inputs Business of along with other common assets and liabilities of MSSL was de-merged and transferred into the company. During the year 2010-11, the company acquired SYMC, a premier manufacturer of sports utility vehicles and recreational vehicles in Korea. Also, the company acquired 38% of the paid-up equity share capital through a Preferential Allotment in EPC Industrie' Ltd (EPC), a company listed on the Bombay Stock Exchange Limited. In February, 2010, the company had launched Maxximo in a very competitive small 4-wheeler cargo segment (0.75 Ton). In June 2011, Bristlecone International AG became a subsidiary of the company. Today, the company's operations span 18 key industries that form the foundation of every modern economy: aerospace, aftermarket, agribusiness, automotive, components, construction equipment, consulting services, defense, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail, and two wheelers.

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