Mahindra Auto sells 56,677 vehicles across portfolio with 45% growth in December

Mahindra & Mahindra Ltd., an Indian automotive company, has announced that its overall auto sales for the month of December 2022 stood at 56,677 vehicles.

In the utility vehicles segment, Mahindra sold 28,333 vehicles in December 2022 while the passenger vehicles segment (which includes UVs, Cars and Vans) sold 28,445 vehicles, the company said in a filing.

In terms of exports, the company sold 3,100 vehicles in December. In the commercial vehicles segment, Mahindra sold 20,080 vehicles in December 2022. 

As per the statement, Mahindra Auto sold 28,333 SUVs with a 62 percent growth.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “Continuing interest from our customers have led to strong demand across our portfolio in December 2022. We have seen growth of 61 percent in our passenger vehicles and a 45 percent overall growth. Due to continuing international disruptions and increasing coronavirus cases, we are keeping a close watch on the dynamic supply chain situation.”

Apart from this, the company also revealed the sale figures of its Farm Equipment Sector (FES), part of the Mahindra Group.

The company while announcing its tractor sales numbers said that domestic sales in December 2022 were at 21,640 units, as against 16,687 units during December 2021.

Total tractor sales (Domestic + Exports) during December 2022 were at 23,243 units, as against 18,269 units for the same period last year. Exports for the month stood at 1,603 units, it said.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21,640 tractors in the domestic market during December 2022, a growth of 30 percent over last year. Rabi crop sowing has progressed very well and is higher than last year acreage and also higher than the average of last 5 years. Wheat and oil seeds are expected to be bumper harvest. 

On the back of strong Rabi sowing, good kharif procurement and likely exports of wheat, the sentiments continue to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements. In the exports market, we have sold 1,603 tractors, a growth of 1 percent over last year.”

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