Mahindra's Auto Sector sells 38,033 units during February 2015
Mumbai, March 2, 2015: Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, today announced its auto sales numbers which stood at 38,033 units during February 2015 as against 42,166 units during February 2014.
The Passenger Vehicles segment (which includes UVs and the Verito) sold 18,103 units in February 2015 as against 19,308 units during February 2014. The company’s domestic sales stood at 34,918 units during February 2015 as against 39,338 units during February 2014. In February 2015, the Truck & Bus division of the company sold 731 units, registering a growth of 21%.
Exports for February 2015 stood at 3,115 units registering a growth of 10%.
Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, The auto industry has not seen any major changes in the Union Budget 2015-16. However looking at the overall budget proposals including planned spend on infrastructure and social reforms, we expect positive sentiments going forward. Further, with an expected revision in lending rates in the RBI policy in early April, the industry should see better times ahead. At Mahindra we are happy with our performance in Exports and the HCV segment where we have seen good growth.Sales Summary February 2015
|YTD February||YTD February||MOM FebF15
|YTD Feb F15
|F15||F14||Feb F14 growth%||YTD|
|Feb F14 growth%|
|Passenger Vehicles (UVs & Verito)||18103||19308||188991||205722||-6%||-8%|
|4-wheelers Commercial (Passenger & Load)*||11928||14701||144678||159938||-19%||-10%|
|LCV & HCV||731||605||7834||7058||21%||11%|
*Includes Maxximo, Gio, Genio & Bolero Pick up
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 16.5 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 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 For further enquiries please contact: Ruzbeh Irani
Chief Group Communications and Ethics Officer and
Member of the Group Executive Board
Phone: +91 22 2490 1441
+91 22 2490 1441
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.