MHCV segment grows by 70% at 1,049 vehicles during January 2018
Mumbai, February 1, 2018: Mahindra & Mahindra Ltd. (M&M Ltd.) today announced its auto sales performance for January 2018 which stood at 52,048 vehicles, compared to 39,386 vehicles during January 2017, a growth of 32%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 23,686 vehicles in January 2018, as against 20,169 vehicles during January 2017, registering a growth of 17%. The company’s domestic sales stood at 49,432 vehicles during January 2018, as against 37,115 vehicles during January 2017 registering a growth of 33%. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,049 vehicles for the month, registering a growth of 70%. Exports for January 2018 stood at 2,616 vehicles, a growth of 15%.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "We are happy to have begun the calendar year with an overall healthy growth of 32%. We have seen a good growth across our portfolio of products both Personal & Commercial. The growth in the MHCV segment lends credence to the positive momentum in the economy, which can be seen even in the growth numbers of our SCV portfolio. We believe this momentum will continue in our Q4FY2018 numbers. The upcoming Auto Expo will allow Mahindra to display a slew of exciting products and mobility solutions in keeping with automotive trends such as Shared Mobility and Last Mile Connectivity".
|Sales Summary January 2018|
|F18||F17||% Change||F18||F17||% Change|
|Cars + Vans||1451||952||52%||12216||11551||6%|
|LCV < 3.5T||19309||12737||52%||157296||131179||20%|
|LCV > 3.5T||644||535||20%||5786||5950||-3%|
|Total Domestic Sales||49432||37115||33%||413807||376211||10%|
|Total Sales (Domestic + Export)||52048||39386||32%||435966||408566||7%|
The Mahindra Group is a USD 19 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 has 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, defence, 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
Media contact information:
Vice President (Communications)
Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – email@example.com