Mahindra's Auto Sector Sells 56,031 vehicles during March 2017
Mumbai, April 2, 2017: Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced its auto sales performance for March 2017 which stood at 56,031 vehicles compared to 52,718 vehicles during March 2016, representing a growth of 6%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 25,352 vehicles in March 2017 as against 26,885 vehicles during March 2016. The company’s domestic sales stood at 53,322 vehicles during March 2017, as against 48,967 vehicles during March 2016, a growth of 9%. In March 2017, the Medium and Heavy Commercial Vehicles segment sold 1,471 vehicles, registering a growth of 67%. Exports for March 2017 stood at 2,709 vehicles.
For the financial year ended March 31, 2017, auto sales performance stood at 5,06,625 vehicles compared to 4,94,098 vehicles during FY2016, registering a growth of 3%.
Commenting on the performance for March 2017, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "At Mahindra, we have performed reasonably well on all our flagship products and have witnessed growth of 31% and 67% respectively in our commercial vehicles and MHCV segment for the month of March 2017. We are particularly happy that our new brands are gaining traction as together the KUV100 and TUV300 crossed the 1 lac vehicle sales milestone since its launch. However, the auto industry continues to see mixed reactions due to several external challenges and the more recent one being the unexpected verdict on the sale of BS3 vehicles that has derailed many planned operations. Going forward, factors such as the likely softening of interest rates, revision in fuel prices, GST implementation and the Union Budget's focus on rural are expected to bring back demand."
|Sales Summary March 2017|
|F17||F16||% Change||F17||F16||% Change|
|Cars + Vans||1525||1449||5%||13589||13983||-3%|
|LCV < 3.5T||20334||15729||29%||166607||154653||8%|
|LCV > 3.5T||1103||830||33%||7626||6425||19%|
|Total Domestic Sales||53322||48967||9%||469384||458065||2%|
|Total Sales (Domestic + Export)||56031||52718||6%||506625||494098||3%|
The Mahindra Group is a USD 17.8 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
Media contact information:
Vice President (Communications)
Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – firstname.lastname@example.org
Other Key Releases
From solar lamps and water jugs and even prosthetic limbs, 3D printing has the potential to drive positive change in the lives of people everywhere. The Mahindra Group has now designed and implemented a pilot project to bring its benefits to semi-urban and rural India.
2016 has gone down in history as Mahindra Racing's most successful Moto3™ World Championship campaign to date. Goals were achieved and surpassed, causing the bar to constantly raise as the season progressed.
Mahindra partners with IBM to develop cloud-based Block Chain application, one of the first projects of its kind in India outside of traditional banking.