Mahindra’s Auto Sector sells 45,101 vehicles during Nov
Business

Mahindra’s Auto Sector sells 45,101 vehicles during Nov

Mumbai, Dec 1: Mahindra & Mahindra Ltd. (M&M Ltd), a part of the USD 20.7 billion Mahindra Group, on Saturday announced its auto sales performance for November 2018 which stood at 45,101 vehicles, compared to 38,570 vehicles during the same month last year, a growth of 17 per cent.

The company’s domestic sales touched 41,564 vehicles during November 2018, as against 36,039 vehicles in November 2017, a growth of 15 per cent.

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 16,188 vehicles in November 2018, as against 16,030 vehicles in the same month last year.

In the Commercial Vehicles segment, the company sold 19,673 vehicles in November 2018, registering a 26 per cent growth.

In the Medium and Heavy Commercial Vehicles segment, M&M sold 637 vehicles for the month. Exports for November 2018 stood at 3,537 vehicles, a growth of 40 per cent, according to a company statement here.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We have registered a double-digit growth in our overall sales. However, adverse macro-economic conditions have impacted the growth forecast for the automotive industry in general.

''Going forward, we hope that decrease in fuel prices and improving liquidity will drive demand for passenger vehicles. At Mahindra, we remain upbeat due to our new product launches of Marazzo, Alturas G4 and the upcoming launch of our new SUV codenamed S201.” (UNI)