Mahindra's Auto Sector sells 43,789 units during January 2016, registers a 10% growth
Mumbai, February 1, 2016: Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, today announced its auto sales numbers which stood at 43,789 units during January 2016 as against 39,930 units during January 2015, representing a growth of 10%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 22,088 units in January 2016 as against 19,573 units during January 2015, a growth of 13%. The company’s domestic sales stood at 40,693 units during January 2016 as against 37,045 units during January 2015. In January 2016, the Medium and Heavy Commercial Vehicles segment sold 611 units, registering a growth of 47%.
Exports for January 2016 stood at 3,096 as against 2,885 units in January 2015.
Speaking on the auto sales performance for January 2016, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, "We are happy to have achieved a growth of 10% during January 2016 which has been possible due to the demand for our products especially the newly launched KUV100 and TUV300. The ensuing Auto Expo is expected to provide a strong fillip for the auto industry which would be beneficial for all OEMs. We are also hopeful that the upcoming Union Budget will have significant sops for the automotive industry, enabling it to post sustainable growth in times to come. We are also happy to see good growth in MHCV & Exports performances."
Sales Summary January 2016
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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