Mahindra’s Auto Sector sells 62,077 vehicles during March 2018, a growth of 10%

Mumbai, Apr 2 (IBNS): Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19 billion Mahindra Group, on Monday announced its auto sales performance for March 2018 which stood at 62,077 vehicles, compared to 56,202 vehicles during March 2017, a growth of 10%.

It is noteworthy that Mahindra’s Automotive Division has sold over 5 lac units during FY18. This has been achieved by the company after a gap of 5 years.

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 26,555 vehicles in March 2018, a growth of 4%. In the commercial vehicle segment, the company sold 25,496 vehicles in March 2018, registering an 11% growth. The domestic sales stood at 58,653 vehicles during March 2018, registering a growth of 10%. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,377 vehicles for the month. Exports for March 2018 stood at 3,424 vehicles, a growth of 26%.

For the financial year ended March 31, 2018, Auto Sector sales stood at 5,49,154 vehicles compared to 5,07,598 vehicles during FY2017, registering a growth of 8%.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We are extremely happy to have achieved a sales milestone of 5 lac plus units during the last financial year, with an overall growth of 8%. This is testimony to the good performance of both passenger as well as commercial vehicles. We are particularly buoyed by the growth of our truck business, which has outperformed the industry. With three of our critical new automotive launches lined up in FY19, we are confident of increasing our market share in the utility vehicle space”.