Home News Mahindra’s Auto Sector registers a growth of 10%

Mahindra’s Auto Sector registers a growth of 10%

Mahindra’s Auto Sector registers a growth of 10%

Mumbai, April 2, 2018

Mahindra & Mahindra Ltd (M&M), a part of the USD 19 billion Mahindra Group, announced its auto sales performance for March 2018 which stood at 62,077 vehicles, compared to 56,202 vehicles during March 2017, a growth of 10 per cent.

It is noteworthy that Mahindra’s Automotive Division has sold over 500,000 units during FY18. This has been achieved by the company after a gap of five years.

The passenger vehicles segment (which includes UVs, cars and vans) sold 26,555 vehicles in March 2018, a growth of 4 per cent. In the commercial vehicle segment, the company sold 25,496 vehicles in March 2018, registering an 11 per cent growth. The domestic sales stood at 58,653 vehicles during March 2018, registering a growth of 10 per cent. In the medium and heavy commercial vehicles segment, M&M sold 1,377 vehicles for the month. Exports for March 2018 stood at 3,424 vehicles, a growth of 26 per cent.

For the financial year ended March 31, 2018, Auto Sector sales stood at 549,154 vehicles compared to 507,598 vehicles during FY2017, registering a growth of 8 per cent.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd said, “We are extremely happy to have achieved a sales milestone of 5 lakh plus units during the last financial year, with an overall growth of 8 per cent. This is testimony to the good performance of both passenger as well as commercial vehicles. We are particularly buoyed by the growth of our truck business, which has outperformed the industry. With three of our critical new automotive launches lined up in FY19, we are confident of increasing our market share in the utility vehicle space”.

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