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
Category September YTD September
  F19 F18 % Change F19 F18 % Change
Passenger Vehicles 21411 25414 -16% 121729 121849 0%
Utility Vehicles 19885 24109 -18% 111730 114598 -3%
Cars* + Vans 1526 1305 17% 9999 7251 38%
Commercial Vehicles 22917 19203 19% 119467 96982 23%
LCV < 3.5T 21223 17803 19% 108975 89919 21%
LCV > 3.5T 630 516 22% 4250 3568 19%
MHCV 1064 884 20% 6242 3495 79%
3W 6940 5928 17% 30774 23666 30%
Total Domestic Sales 51268 50545 1% 271970 242497 12%
Total Exports 3754 3207 17% 18675 12460 50%
Total Sales (Domestic + Export) 55022 53752 2% 290645 254957 14%
*Above Domestic Sales Includes sales made in subsidiary company Mahindra Electric Mobility Ltd

About Mahindra

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

Mohan Nair
Vice President (Communications)
Mahindra & Mahindra Ltd.
Landline – + 91 22 28468510
Email – nair.mohan@mahindra.com

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