Mahindra’s Auto Sector sells 58,416 vehicles during October 2018, a growth of 14%
Mumbai, November 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 October 2018 which stood at 58,416 vehicles, compared to 51,160 vehicles during October 2017, a growth of 14%.
The company’s domestic sales touched 55,350 vehicles during October 2018, as against 48,860 vehicles in October 2017, a growth of 13%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 24,066 vehicles in October 2018, as against 23,453 vehicles in October 2017.
In the Commercial Vehicles segment, the company sold 24,353 vehicles in October 2018, registering a 26% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 683 vehicles for the month. Exports for October 2018 stood at 3,066 vehicles, a growth of 33%.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “For past few months, the automotive industry has been witnessing subdued retail sales for passenger vehicles segment, because of low consumer buying sentiment. Therefore, one has to remain cautious on how the festive season, ultimately, turns out to be. However, at Mahindra we are happy with the response to our Marazzo as well as the uptake for our commercial vehicle portfolio, driven by the newly launched Maha Bolero Pik-up (with 1,700 kg payload) in October”.
|Sales Summary October 2018|
|F19||F18||% Change||F19||F18||% Change|
|Cars* + Vans||1787||1413||26%||11786||8664||36%|
|LCV < 3.5T||23157||18057||28%||132132||107976||22%|
|LCV > 3.5T||513||474||8%||4763||4042||18%|
|Total Domestic Sales||55350||48860||13%||327320||291357||12%|
|Total Sales (Domestic + Export)||58416||51160||14%||349061||306117||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
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