Mahindra’s auto sector sells 48,324 vehicles during August 2018, a growth of 14%
Mumbai, Sept 1 (IBNS): Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, on Saturday announced its auto sales performance for August 2018 which stood at 48,324 vehicles, compared to 42,207 vehicles during August 2017, a growth of 14%.
The company’s domestic sales touched 45,373 vehicles during August 2018, registering a growth of 15%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19,758 vehicles in August 2018, as against 19,406 vehicles in August 2017.
In the commercial vehicles segment, the company sold 20,326 vehicles in August 2018, registering a 25% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,148 vehicles for the month, a significant growth of 113%. Exports for August 2018 stood at 2,951 vehicles, a growth of 14%.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “The auto industry remained subdued in August with low sentiments due to some external factors. Our CV portfolio including our Trucks and Buses continue to post robust growth. With the launch of the Marazzo scheduled next week, we hope to see buoyancy in our passenger vehicle numbers. With the upcoming festive season, we do expect a much improved traction for passenger and commercial vehicles alike”.
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