Witnesses a growth of 13% during the first nine months of FY19
Mumbai, January 1, 2019: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for December 2018 which stood at 39,755 vehicles, compared to 39,200 vehicles during December 2017.
The company's domestic sales touched 36,690 vehicles during December 2018, as against 36,979 vehicles in December 2017. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 15,091 vehicles in December 2018, as against 15,543 vehicles in December 2017.
In the Commercial Vehicles segment, the company sold 16,906 vehicles in December 2018, as against 17,542 vehicles in December 2017. In the Medium and Heavy Commercial Vehicles segment, M&M sold 824 vehicles for the month. Exports for December 2018 stood at 3,065 vehicles, a growth of 38%.
Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "We are happy to have ended the first nine months of the year on a positive growth of 13%, and are particularly buoyed by our ongoing strong performance in Exports. However in domestic market, challenges relating to tight liquidity and low buying sentiment continue the de-growth for December. We hope to see good performance in Q4, owing to the anticipated rural demand because of the harvesting season and the launch of our new XUV300 in February 2019".
|Sales Summary December 2018|
|F19||F18||% Change||F19||F18||% Change|
|Cars* + Vans||1200||1029||17%||14125||10765||31%|
|LCV < 3.5T||15537||15749||-1%||166199||137987||20%|
|LCV > 3.5T||545||600||-9%||5814||5142||13%|
|Total Domestic Sales||36690||36979||-1%||405574||364375||11%|
|Total Sales (Domestic + Export)||39755||39200||1%||433917||383887||13%|
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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Mahindra & Mahindra Ltd.
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