Mahindra Posts 14% Growth in Automotive Sales During First Half of FY2019

For the first half of the financial year, the company posted a growth of 14%, having sold 2,90,645 vehicles.

The company’s domestic sales touched 51,268 vehicles during September 2018, as against 50,545 vehicles in September 2017. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 21,411 vehicles in September 2018, as against 25,414 vehicles in September 2017.

In the Commercial Vehicles segment, the company sold 22,917 vehicles in September 2018, registering a 19% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,064 vehicles for the month, a growth of 20%. Exports for September 2018 stood at 3,754 vehicles, a growth of 17%.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We are happy to have closed the first half of FY-2019 with a growth of 14% which was possible due to our power brands and our range of commercial vehicles. Our recently launched Marazzo has been receiving a good response from customers. The month of September has been muted for passenger vehicles due to factors such as low consumer buying sentiment, high fuel prices and the effects of monsoon in many parts of the country. We remain hopeful that the upcoming festive season will augur well for us as well as the automotive industry”.