Mahindra's Auto Sector sells 55,722 vehicles during January 2019
Witnesses a growth of 7% over the previous year
Mumbai, February 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 January 2019 which stood at 55,722 vehicles, compared to 52,063 vehicles during January 2018, a growth of 7%.
The company's domestic sales touched 52,500 vehicles during January 2019, as against 49,432 vehicles in January 2018, a growth of 6%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 23,872 vehicles in January 2019, as against 23,686 vehicles in January 2018.
In the Commercial Vehicles segment, the company sold 22,625 vehicles in January 2019, as against 21,002 vehicles in January 2018, a growth of 8%. In the Medium and Heavy Commercial Vehicles segment, M&M sold 849 vehicles for the month. Exports for January 2019 stood at 3,222 vehicles, a growth of 22%.
Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "The first month of the new calendar year continues to be on an overall growth path. There is buoyancy in rural growth, commodity costs are levelling, fuel prices are coming down and we see improvement in Forex movement, which in turn will drive positive customer sentiment. Having successfully established the Marazzo & Alturas brands and with the upcoming launch of our new compact SUV, the XUV300, we are positive on our outlook".
Sales Summary January 2019
|F19||F18||% Change||F19||F18||% Change|
|Cars* + Vans||1609||1451||11%||15734||12216||29%|
|LCV < 3.5T||21035||19309||9%||187234||157296||19%|
|LCV > 3.5T||741||644||15%||6555||5786||13%|
|Total Domestic Sales||52500||49432||6%||458074||413807||11%|
|Total Sales (Domestic + Export)||55722||52063||7%||489639||435950||12%|
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
Media contact information
Vice President (Communications)
Mahindra & Mahindra Ltd.
Landline – + 91 22 28468510
Email – email@example.com
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.