Mahindra & Mahindra Sales Declined 14% To 44,359 Units In October

Mahindra & Mahindra has announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of October 2020 stood at 44,359 vehicles, compared to 51,896 in October 2019.

In the Utility Vehicles segment, Mahindra sold 18,317 vehicles in October 2020, compared to 17,785 vehicles in October 2019, registering a growth of 3%. The Passenger vehicle segment (which includes UVs, Cars and Vans) sold 18,622 vehicles in October 2020, a marginal growth over same period last year.

Commenting on the Passenger Vehicles performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “We are happy to achieve a growth of 4% in Utility Vehicles, despite certain supply constraints. Our brands Scorpio, Bolero and XUV 300 continue to do well, while the bookings for the All-New Thar has set new records within just a month of its launch. For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year. Going forward, this augurs well for a robust festive demand which in turn will help the industry in the short term.”

Elaborating further on Pick-Ups and Commercial Vehicles performance, Mr. Nakra said, “We are witnessing a strong demand for our Bolero Pik Up, Supro and Jeeto and have recently launched our BS6 version of the Alfa 3-wheeler, both load and passenger. We are aligning our supply chain and ramping up to meet this demand.”

Exports for the month of October 2020 were at 2,021 vehicles.

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) Performance

Domestic sales in October 2020 were at 45,588 units, as against 44,646 units during October 2019.

Total tractor sales (Domestic + Exports) during October 2020 were at 46,558 units, as against 45,433 units for the same period last year.

Exports for the month stood at 970 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 45,588 tractors between both our Mahindra & Swaraj brands in the domestic market during October 2020, a growth of 2% over last year. We continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market. Auspicious festival days ahead, coupled with mechanization requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry. In the exports market, we have sold 970 tractors, a growth of 23% over last year.”