Mahindra Posts 14% Growth in Automotive Sales During First Half of FY2019
Mumbai, October 1, 2018 : Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for September 2018 which stood at 55,022 vehicles, compared to 53,752 vehicles during September 2017, a growth of 2%. For the first half of the financial year, the company posted a growth of 14%, having sold 2,90,645 vehicles.
The company’s domestic sales touched 51,268 vehicles during September 2018, as against 50,545 vehicles in September 2017. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 21,411 vehicles in September 2018, as against 25,414 vehicles in September 2017.
In the Commercial Vehicles segment, the company sold 22,917 vehicles in September 2018, registering a 19% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,064 vehicles for the month, a growth of 20%. Exports for September 2018 stood at 3,754 vehicles, a growth of 17%.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We are happy to have closed the first half of FY-2019 with a growth of 14% which was possible due to our power brands and our range of commercial vehicles. Our recently launched Marazzo has been receiving a good response from customers. The month of September has been muted for passenger vehicles due to factors such as low consumer buying sentiment, high fuel prices and the effects of monsoon in many parts of the country. We remain hopeful that the upcoming festive season will augur well for us as well as the automotive industry”.
|Sales Summary September 2018|
|F19||F18||% Change||F19||F18||% Change|
|Cars* + Vans||1526||1305||17%||9999||7251||38%|
|LCV < 3.5T||21223||17803||19%||108975||89919||21%|
|LCV > 3.5T||630||516||22%||4250||3568||19%|
|Total Domestic Sales||51268||50545||1%||271970||242497||12%|
|Total Sales (Domestic + Export)||55022||53752||2%||290645||254957||14%|
The Mahindra Group is a USD 20.7 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 enjoys 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, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 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.
Landline – + 91 22 28468510
Email – 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.