Mahindra & Mahindra Ltd. (M&M) of the $20.7 billion Mahindra Group has reported a growth of 26% in auto sales at 45,155 vehicles during June 2018 as compared to 35,759 vehicles in June 2017.
The Passenger Vehicles segment which includes UVs, cars and vans sold 18,137 units in June 2018, as against 16,212 vehicles in June 2017, a growth of 12%. In the commercial vehicle segment, the company sold 19,229 vehicles in June 2018, registering a 27% growth. Domestic sales stood at 41,689 vehicles during June 2018, registering a growth of 23%. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,108 vehicles for the month, a growth of 58%. Exports in June 2018 stood at 3,466 vehicles, a growth of 87%.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd., said: “We are happy to have garnered an overall growth of 26% for June. This growth is driven by both our commercial and personal vehicles portfolio. We hope that macro conditions such as fuel prices, interest rates and raw material prices remain at satisfactory levels to enable us and the auto industry to grow in the coming months”.
