Mahindra's Auto Sector sells 51383 units during October 2015, registers a 20% growth

Mumbai, November 1, 2015: Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced its auto sales numbers which stood at 51383 units during October 2015 as against 42780 units during October 2014, representing a growth of 20%.

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 24060 units in October 2015 as against 20255 units during October 2014, registering a growth of 19%. The company’s domestic sales stood at 48815 units during October 2015 as against 40278 units during October 2014, a growth of 21%. In October 2015, the Medium and Heavy Commercial Vehicles segment sold 581 units, registering a growth of 169%.

Exports for October 2015 stood at 2568 units, representing a growth of 3% for October 2015 and a growth of 32% for YTD October 2015.

Speaking on the auto sales performance for October 2015, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, “The advent of the festive season has provided the much needed fillip for the auto industry especially on the back of the new launches of most manufacturers which has received an encouraging response. With the drop in interest rates and the fuel prices remaining benign, we expect the industry to maintain a good growth momentum going forward. At Mahindra we are happy with our performance during October 2015, which has witnessed a positive growth of 20% backed by excellent response garnered from the recently launched TUV300 as well as other brands such as XUV500, Scorpio, Bolero and pickups. We are quite hopeful of this positive growth momentum continuing for the rest of the year.”

 

Sales Summary October 2015


 

October

YTD October

F16

F15

% Change

F16

F15

% Change

Passenger Vehicles

24060

20255

19%

125757

130942

-4%

Utility Vehicles

22664

19029

19%

117246

119115

-2%

Cars + Vans

1396

1226

14%

8511

11827

-28%

Commercial Vehicles

18756

14345

31%

93830

89841

4%

LCV < 3.5T

17770

13811

29%

87164

84955

3%

LCV > 3.5T

405

318

27%

3912

3164

24%

MHCV

581

216

169%

2754

1722

60%

3W

5999

5678

6%

33248

34157

-3%

Total Domestic Sales

48815

40278

21%

252835

254940

-1%

Total Exports

2568

2502

3%

21249

16120

32%

Total Sales (Domestic + Export)

51383

42780

20%

274084

271060

1%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About Mahindra

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.

Visit us at www.mahindra.com

Our Social Media Channels:

Twitter - https://twitter.com/MahindraRise

Facebook - https://www.facebook.com/MahindraRise

For further enquiries please contact:

Mohan Nair

Senior General Manager (Communications)

Automotive & Farm Equipment Sectors

Direct Line – + 91 22 28468510

Email Address – nair.mohan@mahindra.com

Other Key Releases

Shaping the future

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.

Back at it!

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.

Reinventing supply chain

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.