Mahindra Auto sector registers 14% growth in August 2016

Mahindra & Mahindra Ltd. (M&M Ltd.), has sold 40,591 vehicles in August 2016 compared to 35,634 vehicles during August 2015, a growth of 14%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,246 vehicles in August 2016 as against 14,198 vehicles during August 2015, a growth of 29%. The company sold 36,944 vehicles domestically during August 2016, as against 32,122 vehicles during August 2015, a growth of 15%. In August 2016, the Medium and Heavy Commercial Vehicles segment sold 371 vehicles, registering a growth of 9%.

Exports for August 2016 stood at 3,647 vehicles, a growth of 4% for the month and 18% cumulatively.

Commenting on the auto sales performance for August 2016, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, “The improved spread of monsoon as well as new product launches have helped the auto industry perform positively. Coupled with this, the uncertainty surrounding diesel vehicles has been lifted by the Honourable Supreme Court giving the customer the choice to buy his preferred vehicle which will help improve sentiments going forward. At Mahindra we are happy to have garnered an overall growth of 14% and a growth of 29% in UVs during the last month and we hope that the ensuing festive season will give us a further boost”.

Sales Summary August 2016