Mahindra & Mahindra Ltd, one of the biggest Indian automakers, reported stronger sales for its SUVs.
Total utility or SUV sales for the company came in at 18,225 units, up 7% from 17,119 in August last year.
With this, the company has been able to post a growth of 2% in SUV sales so far this financial year.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19,325 vehicles in August 2017, as against 18,246 vehicles during August 2016, registering a growth of 6%.
Overall commercial vehicle sales were up 17% in August to 16,303.
The Medium and Heavy Commercial Vehicles segment sold 538 vehicles, a growth of 45%.
Total exports of all vehicles stood at 2,582, down 29%.
Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We are happy with our performance in August 17 as our Commercial Vehicles grew by 17%. Our LCV,
less than 3.5 Ton, grew by 18% and MHCVs registered a whooping growth of 45%.”
“This upsurge in demand has been due to good monsoons and our rural penetration. Our Passenger Vehicles grew by 6% and our Overall sales grew by 4%.
“Our brands continue to gain traction despite several external challenges. As we get into festive season, we are confident of a good growth over the next couple of months, on the back of our diversified product portfolio,” he added.
Total vehicle sales including exports was 42,116 vehicles, compared to 40,591 vehicles during August 2016, representing a growth of 4%.
The company’s domestic Sales stood at 39,534 vehicles during August 2017, as against 36,944 vehicles during August 2016, a growth of 7%.
TRACTORS
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) also announced its tractor sales numbers for August 2017.
Domestic sales in August 2017 were at 15,246 units, as against 12,327 units during August 2016. Total tractor Sales (domestic + exports) during August 2017 were at 16,516 units, as against 13,543 units for the same period last year. Exports for the month stood at 1,270 units.
Commenting on the month’s performance, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 15,246 tractors in the domestic market during August 2017, a growth of 24% over last year.
“With the normal monsoon received in the country till date, we are hopeful that it will boost the agricultural output leading to improved tractor demand in the festive months. In the exports market, we sold 1270 tractors.”