Mahindra & Mahindra Ltd. announced its performance for the month of January 2019, in terms of automotive sales which is recorded at 55,722 vehicles, much higher than the sale of 52,063 vehicles in the period of January 2018, a growth of 7%.
The company, a subsidiary of the 20.7 billion dollar worth Mahindra Group, reported domestic sales of 52,500 vehicles in the month of January 2019, in comparison with 49,432 vehicle sales during the period of January 2018, which is a remarkable growth of 6%. The passenger vehicles category, including cars, UVs and vans, reported a sale of 23,872 vehicles during January 2019, as compared to the sales of 23,686 vehicles during the month of January 2018.
In the commercial vehicles category, Mahindra & Mahindra Ltd. reported sales of 22,625 vehicles during January 2019, compared to 21,002 vehicles sold during January 2018, which is a growth of 8%.
In the medium and heavy commercial vehicles category, the company recorded sales of 849 vehicles for the month. And exports saw a growth of 22%, i.e., 3,222 vehicles, during January 2019.
Speaking on the performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “The first month of the new calendar year continues to be on an overall growth path. There is buoyancy in rural growth, commodity costs are levelling, fuel prices are coming down and we see improvement in Forex movement, which in turn will drive positive customer sentiment. Having successfully established the Marazzo & Alturas brands and with the upcoming launch of our new compact SUV, the XUV300, we are positive on our outlook”.