Mumbai, March 1, 2020: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for February 2020.
In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 10,938 vehicles in February 2020, compared to 26,109 vehicles in February 2019.
In the Commercial Vehicles segment, the company sold 15,856 vehicles in February 2020, as against 21,154 vehicles in February 2019.
In the Medium and Heavy Commercial Vehicles segment, Mahindra sold 436 vehicles for the month. Exports for February 2020 stood at 1,839 vehicles.
The company's overall automotive sales (Domestic + Exports) stood at 32,476 vehicles in February 2020, compared to 56,005 vehicles during February 2019.
Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said, "The ramp-down of BS IV vehicle production has been in line with our plan for February. However, because of the unforeseeable challenges on the parts-supply from China, our BS VI ramp-up has been affected. This has resulted in a high de-growth in our billing volume for February and our dealer inventory is, now, under 10 days. Going into March, we anticipate the challenge on parts-supply to continue for another few weeks, before we get back to normalcy."
|Sales Summary February 2020|
|F20||F19||% Change||F20||F19||% Change|
|Cars* + Vans||263||1760||-85%||7300||17494||-58%|
|LCV < 3.5T||14991||19647||-24%||185625||206881||-10%|
|LCV > 3.5T||429||821||-48%||6092||7376||-17%|
|Total Domestic Sales||30637||52915||-42%||442170||510989||-13%|
|Total Sales (Domestic + Export)||32476||56005||-42%||468642||545644||-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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Vice President (Communications)
Mahindra & Mahindra Ltd.
Landline – + 91 22 28468510
Email - [email protected]