Friday, November 3, 2017

Mahindra’s Auto Sector Sells 51,149 vehicles during October 2017

Mahindra & Mahindra Ltd. (M&M Ltd.) today announced its auto sales performance for October 2017 which stood at 51,149 vehicles, compared to 52,008 vehicles during October 2016.

The Passenger Vehicles segment (which includes UVs, Cars, and Vans) sold 23,413 vehicles in October 2017, as against 24,737 vehicles during October 2016. The company’s domestic sales stood at 48,818 vehicles during October 2017, as against 48,729 vehicles during October 2016. In the Medium and Heavy Commercial Vehicles segment, M&M sold 748 vehicles for the month, a growth of 59%. Exports for October 2017 stood at 2,331 vehicles a de-growth of 29 %

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “The auto industry has had a mixed month. The build-up to Dhanteras & Diwali was good but the demand tapered off subsequently. Last year all festivals were in the month of October and the industry volumes had a high base. This year, September and October combined, we have grown by 7.9% in Auto Division. Going forward we enter into a year-end period of lower sales. Our refreshes & new variants, that have been launched, will carve out a niche and we expect to sustain the growth momentum for the remaining period of the current financial year.

Source: Mahindra

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