Mahindra’s Auto Sector sells 47,199 vehicles in July, marks 13% growth
Mumbai, Aug 1 (IBNS) : Automobile major Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, on Wednesday announced its auto sales performance for July 2018 which stood at 47,199 vehicles, compared to 41,819 vehicles during July 2017,marking a growth of 13%.
The company’s domestic sales touched 44,605 vehicles during July 2018, registering a growth of 12%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19,781 vehicles in July 2018, as against 21,034 vehicles in July 2017.
In the commercial vehicles segment, the company sold 19,284 vehicles in July 2018, registering a 28% growth.
In the Medium and Heavy Commercial Vehicles segment, M&M sold 866 vehicles for the month, a growth of 32%. Exports for July 2018 stood at 2,594 vehicles, a growth of 31%.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "The auto industry has been subject to certain uncertainties with the truckers strike and sluggishness on the retail front which has impacted the passenger vehicle segment. Demand for our commercial vehicles continues to be strong and the newly launched Furio range of ICVs augurs well for our M&HCV business. As we move into the festive season, we are confident of seeing a turnaround in the overall buying sentiment, coupled with the just announced Mahindra Marazzo, which is scheduled for launch next month”.
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