Mahindra's Auto Sector sells 52,718 units during March 2016, registers a growth of 17% Achieves an overall growth of 6% in FY2016
Mumbai, April 1, 2016: Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, today announced its auto sales numbers which stood at 52,718 units during March 2016 as against 45,124 units during March 2015, representing a growth of 17%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 26,885 units in March 2016 as against 22,183 units during March 2015, a growth of 21%. The company's domestic sales stood at 48,967 units during March 2016 as against 41,105 units during March 2015, a growth of 19%. In March 2016, the Medium and Heavy Commercial Vehicles segment sold 879 units, registering a growth of 86%.
Exports for March 2016 stood at 3,751 units.
Speaking on the auto sales performance for March 2016, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, "At Mahindra we are happy to have achieved an overall growth of 17% during March 2016 and 6% for FY2016, despite various challenges. The last financial year was significant for us considering the number of new product launches, which were well received by our customers, leading to a positive growth both in domestic and overseas markets. Going forward we hope to see good opportunity with our wide product portfolio. Further, the likely softening of interest rates in the upcoming RBI monetary policy, will help the automotive industry to maintain its growth momentum in FY2017."
|Sales Summary March 2016|
|Cars + Vans||1449||1511||-4%||13983||17131||-18%|
|LCV < 3.5T||15729||13126||20%||154653||145010||7%|
|LCV > 3.5T||830||516||61%||6425||5328||21%|
|Total Domestic Sales||48967||41105||19%||458065||434568||5%|
|Total Sales (Domestic + Export)||52718||45124||17%||494098||464764||6%|
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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