Mahindra & Mahindra logs good volume growth

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SME Times News Bureau | 01 Dec, 2017
Automobile major Mahindra & Mahindra Ltd. (M&M) on Friday announced total sales of 38,570 units last month.

In a statement issued here the company said it sold a total of 38,570 units last month up from 32,564 units sold during November 2016.

The passenger vehicles domestic segment (which includes utility vehicles, cars and vans) sold 16,030 vehicles in November 2017, as against 13,198 vehicles during November 2016, a growth of 21 percent.

In the commercial vehicles segment, M&M sold 15,554 units last month, up from 12,718 units sold in November 2016.

M&M also logged growth in the three wheeler segment last month selling 4,455 units as against 3,953 units sold during corresponding period in 2016.

The company's domestic sales stood at 36,039 vehicles during November 2017, as against 29,869 vehicles during November 2016.

Exports for November 2017 stood at 2,531 vehicles, a de-growth of six percent.

"We are happy to be in a positive growth phase for November 2017, which is usually a lean period post the festive season. Our passenger and small commercial vehicles growth for the month of November have been very encouraging at 21 percent and 29 percent respectively, while the MHCV segment continued to grow very well.

"We expect our growth momentum to continue on the back of some recent refresh launches as well as the positivity of our product portfolio," Rajan Wadhera, President, Automotive Sector was quoted as saying in the statement.