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Mahindra Auto Sector sells 44,359 vehicles in October Registers 3% growth in Utility Vehicles

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of October 2020 stood at 44,359 vehicles, compared to 51,896 in October 2019.

Mumbai, November 1, 2020: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of October 2020 stood at 44,359 vehicles, compared to 51,896 in October 2019.

In the Utility Vehicles segment, Mahindra sold 18,317 vehicles in October 2020, compared to 17,785 vehicles in October 2019, registering a growth of 3%. The Passenger vehicle segment (which includes UVs, Cars and Vans) sold 18,622 vehicles in October 2020, a marginal growth over same period last year.

Commenting on the Passenger Vehicles performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “We are happy to achieve a growth of 4% in Utility Vehicles, despite certain supply constraints. Our brands Scorpio, Bolero and XUV 300 continue to do well, while the bookings for the All-New Thar has set new records within just a month of its launch. For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year. Going forward, this augurs well for a robust festive demand which in turn will help the industry in the short term.”

Passenger Vehicles Sales Summary (Domestic) – October 2020

Category October YTD October
  F21 F20 % Change F21 F20 % Change
Utility Vehicles 18317 17785 3% 68988 116778 -41%
Cars + Vans 305 675 -55% 1109 5753 -81%
Passenger Vehicles 18622 18460 1% 70097 122531 -43%

*Above Domestic Sales Includes sales made in subsidiary company Mahindra Electric Mobility Ltd

Elaborating further on Pick-Ups and Commercial Vehicles performance, Mr. Nakra said, “We are witnessing a strong demand for our Bolero Pik Up, Supro and Jeeto and have recently launched our BS6 version of the Alfa 3-wheeler, both load and passenger. We are aligning our supply chain and ramping up to meet this demand.”

Commercial Vehicles Sales Summary (Domestic) – October 2020

Category October YTD October
  F21 F20 % Change F21 F20 % Change
LCV <2T 4165 4253 -2% 14238 24023 -41%
LCV 2 T – 3.5 T 15895 18472 -14% 67926 92897 -27%
LCV > 3.5T + MHCV 538 857 -37% 1330 7781 -83%
3 Wheelers (including electric 3Ws) 3118 7151 -56% 4147 37821 -89%

Exports for the month of October 2020 were at 2,021 vehicles

Exports – October 2020

Category October YTD October
  F21 F20 % Change F21 F20 % Change
Total Exports 2021 2703 -25% 8296 18102 -54%

About Mahindra

The Mahindra Group is a USD 19.4 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 renewable energy, agribusiness, logistics and real estate development.  Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

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