Mahindra Auto Sector Sells 42,731 Vehicles In November
The company registers 27% growth in Utility Vehicle segment.
Mahindra & Mahindra has announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of November 2020 stood at 42,731 vehicles, compared to 41,235 in November 2019, a growth of 4%.
In the Utility Vehicles segment, Mahindra sold 17,971 vehicles in November 2020, compared to 14,161 vehicles in November 2019, registering a growth of 27%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,212 vehicles in November 2020, a growth of 24% over same period last year.
Commenting on the Passenger Vehicles' performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “At Mahindra we are happy to achieve strong double digit growth in SUVs during the month of November, aided by a robust festive demand for all our products. Given strong rural growth and signs of improvement in economic activities, we are hopeful to see this positive momentum continue post the festive season.”
Farm Equipment Sector
Domestic sales in November 2020 were at 31,619 units, as against 20,414 units during November 2019.
Total tractor sales (Domestic + Exports) during November 2020 were at 32,726 units, as against 21,031 units for the same period last year.
Exports for the month stood at 1,107 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 31,619 tractors in the domestic market during November 2020, a growth of 55% over last year. Demand continues to be robust fueled by an excellent festive season with retails being strong during Dhanteras and Diwali. Rural sentiments remain positive on account of higher Kharif output and Rabi sowing. Procurement operations for kharif are on full swing which would keep the rural cash flows healthy. Government’s focus on rural growth continues and outlay under Atmanirbhar Bharat 3.0 will provide further fillip to the industry. In the exports market, we have sold 1,107 tractors, a growth of 79% over last year.”
