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M&M records sales of 54,096 vehicles in June'22

Mahindra & Mahindra Limited (M&M Ltd.) announced that its overall auto sales for the month of June 2022 stood at 54,096 vehicles.

In the Utility Vehicles segment, Mahindra sold 26,620 vehicles in June 2022. The Passenger Vehicles segment (which includes UVs, cars and vans) sold 26,880 vehicles in June 2022. Exports for the month were at 2,777 vehicles.

In the Commercial Vehicles segment, Mahindra sold 20,431 vehicles in June 2022. All the Light Commercial Vehicle Segments of <2T, Pickups (2T to 3.5T), >3.5T and heavy commercial vehicles continued their growth trajectory in June 2022.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “Q1FY23 is our second consecutive highest SUV sales quarter. This has been made possible due to continued robust demand for all our brands, including XUV700, Thar, Bolero, and XUV300. We sold 26,620 SUVs in June, and overall, 54,096 vehicles, registering a growth of 64%. The XUV700 achieved yet another milestone by being awarded the coveted Global NCAP ‘Safer Choice’ Award for being the safest car in India. This accolade is only available to automakers achieving the highest levels of safety for vehicles sold in India. We had a blockbuster launch of the Scorpio-N and it has generated tremendous buzz and anticipation. The supply chain situation continues to remain dynamic; we are monitoring the situation closely.”

Farm Equipment Sector registers a growth of 50% in the exports market

Domestic sales in June 2022 were at 39,825 units, as against 46,875 units during June 2021.

 Total tractor sales (domestic + exports) during June 2022 were at 41,848 units, as against 48,222 units for the same period last year.

Exports for the month stood at 2,023 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd., said, “We have sold 39,825 tractors in the domestic market during June 2022. With good prices for the rabi output, the cash flow with farmers is good. The government’s approval of an increase in MSP for all kharif crops, combined with the forecast of a normal monsoon, bodes well for a bumper kharif crop. Though kharif sowing is lagging in the first fortnight of the season compared to last year due to deficient rainfall in key kharif states, further advancement of southwest monsoons across the country brings in positive sentiments and is likely to boost tractor demand in the coming months. In the export market, we have sold 2,023 tractors, with a growth of 50% over last year.”

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