Talks Between Mahindra and Pininfarina Might Resume Soon
NDTV Auto Team
1 min read
Jul 31, 2015, 09:29 PM
We'd told you that Mahindra was looking to buy stake in the troubled Italian car designer Pininfarina. It was yesterday that Mahindra revealed that they had asked Pininfarina to help them out with the design and a part of engineering for their new mini SUV - the TUV300 - after which we now hear that the design firm is still hoping to clinch a sale with the Indian car maker.
Pininfarina forecast on Thursday a full-year operating loss and said it did not expect to be able to meet at the end of the year a target for earnings before interest, tax, depreciation and amortisation agreed with creditors as part of its debt restructuring.
"Although it hopes for a positive outcome of ongoing talks (with Mahindra), the board is working on new standalone business and financial plan more in line with the group's current ability to generate cash to repay its debt," the company said in a statement.
We know how important Pininfarina is, as we've seen the Ferrari Testarossa and its latest creation includes the Sergio windshield-less concept car. Pininfarina's controlling shareholder Pincar and banking creditors failed to agree to a sale of the indebted group to Mahindra in July itself and look like the talks between the companies will resume soon.
Pininfarina reported a first-half net loss of 4.4 million euros, in line with the previous year, and said its net debt stood at 52.7 million euros at the end of June up from 44.8 million euros at the end of December. If the deal does come through, we Indians might be looking at a different breed of cars altogether, so let's keep our fingers crossed.
Pininfarina forecast on Thursday a full-year operating loss and said it did not expect to be able to meet at the end of the year a target for earnings before interest, tax, depreciation and amortisation agreed with creditors as part of its debt restructuring.
"Although it hopes for a positive outcome of ongoing talks (with Mahindra), the board is working on new standalone business and financial plan more in line with the group's current ability to generate cash to repay its debt," the company said in a statement.
We know how important Pininfarina is, as we've seen the Ferrari Testarossa and its latest creation includes the Sergio windshield-less concept car. Pininfarina's controlling shareholder Pincar and banking creditors failed to agree to a sale of the indebted group to Mahindra in July itself and look like the talks between the companies will resume soon.
Pininfarina reported a first-half net loss of 4.4 million euros, in line with the previous year, and said its net debt stood at 52.7 million euros at the end of June up from 44.8 million euros at the end of December. If the deal does come through, we Indians might be looking at a different breed of cars altogether, so let's keep our fingers crossed.
Related News
Popular Mahindra Models
Latest Cars
Upcoming Cars
Trending News
3 mins readWill The Kawasaki W230 Be Launched In India?
Latest News
Jaiveer Mehra | Dec 26, 2025New Mahindra XUV 7XO Teaser Confirms 540 Degree CamerasLatest teaser video confirms the SUV will get the new 540 degree camera set-up from the XEV series as well as a few other features.1 min read
car&bike Team | Dec 24, 2025Updated Bajaj Pulsar 150 Launched At Rs 1.09 Lakh: Gets LED Lighting, New ColoursThe Pulsar 150 is offered in three variants with prices topping out at Rs 1.15 lakh (ex-showroom).2 mins read
Janak Sorap | Dec 24, 20252026 Kawasaki Ninja 650 Launched at Rs 7.91 LakhWith E20 compliance, the 2026 Ninja 650 receive a new colour update and a premium price tag.1 min read
Jafar Rizvi | Dec 24, 2025Listed: Car Manufacturers That Will Hike Prices From January 2026Based on the announcements made so far, the price increase across car models is expected to range between 2 and 3 per cent.3 mins read
car&bike Team | Dec 24, 2025KTM RC 390 Discontinued Globally, Remains On Sale In IndiaThe KTM RC 390 will continue to be offered on sale in India, where it is manufactured and there’s still strong demand for the model.2 mins read
car&bike Team | Dec 23, 2025India Bike Week 2025 In Pictures: Highlights From Edition 12The 12th Edition of IBW was held on December 19 and 20, and if you missed this year’s festival, here is a recap of all that happened.3 mins read
Jafar Rizvi | Dec 24, 2025MG Windsor EV 38 kWh Long-Term Report: IntroductionThe Windsor EV has joined our garage, and before it settles into daily duty, I took it out to get a sense of what living with an electric car is like.4 mins read
Seshan Vijayraghvan | Dec 23, 20252026 Kia Seltos Review: Formula Is Spot On, But Is The Timing Right?The 2nd-gen Kia Seltos has arrived, but it has the challenge of facing strong rivals like the Victoris and Sierra. The question is simple - Does it still have what it takes?9 mins read
car&bike Team | Dec 26, 2025Tata Punch EV Long-Term Second Report: Highway Performance, Pros & ConsAfter a week of living with the Tata Punch EV Long Range—including a proper Mumbai-Nashik highway test—we've learned what this little electric SUV is really made of.1 min read
Seshan Vijayraghvan | Dec 22, 20252026 Tata Harrier & Safari 1.5 Hyperion Review: By The Power Of Petrol!The new Tata Harrier and Safari petrol packs a new 1.5-litre TGDI Hyperion engine, but is it an ideal alternative to the diesel version?7 mins read
Bilal Firfiray | Dec 19, 2025Maruti Suzuki e-Vitara Review: Worth The Wait?After a long wait, the first-ever electric Maruti Suzuki is here. It’s the e-Vitara, and it comes with a few promises. But arriving this late, is it worth the wait? Or is it a case of too little, too late?9 mins read