>Auto and Farm Sector

Mahindra Auto registers 17% growth in passenger vehicle sales in August

Mahindra & Mahindra Ltd. recently announced that its overall auto sales (passenger vehicles + commercial vehicles + exports) for the month of August 2021 stood at 30,585 vehicles.

In the Utility Vehicles segment, Mahindra sold 15,786 vehicles in August 2021. The Passenger Vehicles segment (which includes utility vehicles, cars and vans) sold 15,973 vehicles in August 2021. Exports for the month of August 2021 were at 3,180 vehicles.

According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., “We sold 30,585 vehicles overall and registered a growth of 17 per cent in the Passenger Vehicles segment, over the same period last year. Demand across our product portfolio continues to remain strong with Thar, XUV300 and our recently launched Bolero Neo and Bolero Pik-Up range clocking in impressive booking numbers. Growth momentum in exports continued with the sale of 3,180 vehicles, registering an increase of 172 per cent. August has been an exciting month with the reveal of the much-anticipated XUV700 and the all-new visual identity crafted exclusively for our SUV portfolio. Supply of semiconductors continues to be a global issue for the auto industry and has been a major area of focus for us.”

Meanwhile, the Farm Equipment Sector (FES), part of the Mahindra Group, also announced its tractor sales numbers for August 2021.

Domestic sales in August 2021 were at 19,997 units, as against 23,503 units during August 2020.

Total tractor sales (domestic + exports) during August 2021 were at 21,360 units, as against 24,458 units for the same period last year.

Exports for the month stood at 1,363 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd., said, “We have sold 19,997 tractors in the domestic market during August 2021 over last year. The industry saw a de-growth in August over last year due to the high base effect. We saw a smart recovery in overall acreage of Kharif crops, with most of the key crops posting acreage levels closer to last year sown area, despite erratic monsoon in select markets. With the festive period on the anvil, which coincides with the harvesting season, we anticipate a robust demand in the coming months. In the exports market, we have sold 1,363 tractors with a growth of 43 per cent over last year.”

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