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Mahindra auto sales December | Image:Mahindra Auto
Mahindra & Mahindra Ltd. (M&M Ltd.), a prominent player in India’s automotive sector, has reported robust sales figures for the month of December 2023, showcasing a 6 per cent overall growth, including exports. The company’s total auto sales reached 60,188 vehicles during the month.
In the Utility Vehicles segment, Mahindra excelled with the sale of 35,171 vehicles in the domestic market, marking an impressive growth of 24 per cent. The overall performance, including exports, in this segment stood at 36,349 vehicles. Additionally, Mahindra’s Commercial Vehicles achieved domestic sales of 17,888 units.
Veejay Nakra, President of the Automotive Division at M&M Ltd., expressed satisfaction with the strong performance in the SUV segment, stating, “In December, we sold a total of 35,171 SUVs, reflecting a healthy growth of 24 per cent over the previous year. Despite facing some supply challenges on select parts, we are actively collaborating with our suppliers to address these challenges and ensure a smoother operation in the coming months.”
Passenger Vehicles Sales Summary (Domestic) – December 2023
Utility Vehicles: 35,171 units (Previous Year: 28,333 units) – Growth: 24 per cent
Cars + Vans: 3 units (Previous Year: 112 units) – Change: -97 per cent
The positive sales performance in the Utility Vehicles category played a pivotal role in driving the overall growth of Mahindra Auto. The company’s commitment to innovation and customer satisfaction remains evident through its continuous efforts to overcome supply challenges and enhance the overall consumer experience.
Founded in 1945, the Mahindra Group has evolved into one of the largest and most respected multinational conglomerates with a presence in over 100 countries and a workforce of 260,000 employees. The group’s leadership positions in farm equipment, utility vehicles, information technology, and financial services contribute to its status as the world’s largest tractor company by volume.
At 11:30 am on Monday, January 1, 2024, M&M shares were trading 1.52 per cent lower at Rs 1,703.10 apiece on the NSE.
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