Mahindra's Auto Sector sells 40,656 units during May 2016, registers a growth of 11%
Mumbai, June 1, 2016: Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, today announced its auto sales numbers for May 2016 which stood at 40,656 units compared to 36,706 units during May 2015, a growth of 11%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19,635 units in May 2016 as against 18,135 units during May 2015, a growth of 8%. The company's domestic sales stood at 36,613 units during May 2016, as against 33,369 units during May 2015, a growth of 10%. In May 2016, the Medium and Heavy Commercial Vehicles segment sold 501 units, registering a growth of 46%.
Exports for May 2016 stood at 4,043 units, a growth of 21%.
Commenting on the auto sales performance for May 2016, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, "We are happy to have achieved an overall growth of 11% during May 2016, in the midst of regulatory uncertainties. The favourable monsoon projections will definitely lead to improved buyer sentiment that would likely bring a buoyancy in overall demand across all segments of the automotive industry. Going forward, we expect that our wider product portfolio will drive our growth. The continuing growth in our MHCV and Exports volumes is also encouraging. Further the upcoming e Verito launch, on June 2, will add a new and innovative product to our EV range."
Mr Shah further added, "We hope that regulatory interventions will settle at the earliest to enable the auto industry to operate in a stable regime and contribute to the planned growth of India’s GDP."
|Sales Summary May 2016|
|Cars + Vans||987||1155||-15%||2158||2678||-19%|
|LCV < 3.5T||11852||10349||15%||23686||20943||13%|
|LCV > 3.5T||756||715||6%||1397||1190||17%|
|Total Domestic Sales||36613||33369||10%||75970||67836||12%|
|Total Sales (Domestic + Export)||40656||36706||11%||82519||73433||12%|
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world's largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013.
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