M&M posts flat PV sales, CV numbers up 26% in November
Mahindra & Mahindra despatches 16,188 PVs and 19,673 CVs; Bolero pickup continues to power LCV numbers
Mahindra & Mahindra (M&M) has reported overall vehicle sales, comprising both passenger vehicles and commercial vehicles in the domestic and export markets, of 45,101 vehicles in November 2018. This marks a year-on-year growth of 17 percent (November 2017: 38,570).
Domestic PV and CV sales totaled 41,564 vehicles during November 2018, up 15 percent (November 2017: 36,039.
The domestic PV segment (which includes UVs, cars and vans) saw sales of 16,188 vehicles in November 2018, as against 16,030 vehicles in November 2017. Demand for UVs was up only 1 percent to 15,049 units while that for cars and vans grew 6 percent to 1,139 units (including EVs).
In the CV segment, the company sold 19,673 vehicles in November 2018, registering 26 percent growth, much of it due to the surging demand for the Bolero pickup series. In the less than 3.5-tonne LCV category, M&M has sold 18,530 units (+30%). In the Medium and Heavy Commercial Vehicles segment, M&M sold 637 vehicles in November 2018, down 20 percent YoY (November 2017792). Exports for November 2018 stood at 3,537 vehicles, a growth of 40%.
Commenting on the monthly performance, Rajan Wadhera, president, Automotive Sector, M&M, said, “We have registered double-digit growth in our overall sales. However, adverse macro-economic conditions have impacted the growth forecast for the automotive industry in general. Going forward, we hope that the decrease in fuel prices and improving liquidity will drive demand for passenger vehicles. At Mahindra, we remain upbeat due to our new product launches of Marazzo, Alturas G4 and the upcoming launch of our new SUV codenamed S201.”
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