Mahindra records lowest PV sales in 2016 despite 7% YoY increase in June

Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, has sold a total of 39,011 units in June 2016, up 8% (June 2015: 36,134).

The Passenger Vehicles segment (which includes UVs, cars and vans) sold 17,070 units in June 2016, up 7% (June 2015: 15,880). Its overall domestic sales stood at 34,991 units as against 33,282 units during June 2015.

Despite the rise in passenger vehicle sales in June, Mahindra has sold the lowest number of PVs in 2016 – with sales on a downward spiral since FY2016-17.

Speaking on the auto sales performance for June 2016, Pravin Shah, president & chief executive (Automotive), M&M said, “We are happy to have achieved an overall growth of 11% during the first quarter of the current financial year despite various challenges. With the advent of a good monsoon, which we are currently witnessing, we hope to see improved sentiments and a buoyancy in demand thereby enhancing rural prosperity. We do hope that the Supreme Court while taking a decision on diesel vehicles ban in NCR region will take cognisance of all the facts including the role that the automotive industry plays in the country’s industrial growth.”

Also read: Mahindra Sales in May 2016