M&M
M&M sells 45,640 vehicles in April 2022
Mumbai: Mahindra & Mahindra on Monday said its overall auto sales for the month of April increased by nearly 25 per cent with 45,640 vehicles sold.
The company had sold 36,437 vehicles in the corresponding month last year, it said in a statement.
In the utility vehicles segment, Mahindra sold 22,168 vehicles in April, while in the passenger vehicles segment, which includes UVs, cars and vans, the company sold 22,526 vehicles.
Its exports for the month increased by 35 pet cent with 2,703 vehicles compare to 2,005 in April last year.
In the commercial vehicles segment, Mahindra sold 17,402 vehicles in April, registering a growth of 23 per cent from last year.
All light commercial vehicle segments and heavy commercial vehicles continued their growth trajectory in April 2022, the company said. M&M Automotive Division president Veejay Nakra said the demand across products continues to be robust with strong booking numbers and pipeline.
"There were a number of supply chain challenges due to lockdown in China. We continue monitoring the developments closely and will take corrective action as appropriate," Nakra added.
The company's farm equipment sector (FES) reported total tractor sales of 40,939 units during April, as against 27,523 units for the same period last year.
Domestic sales in April 2022 were at 39,405 units, as against 26,130 units during April 2021, while exports for the month stood at 1,534 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 39,405 tractors in the domestic market during April 2022, at a growth of 51 per cent over last year. Our business witnessed strong growth with demand drivers staying on course. Rabi harvesting has progressed well across markets."
He further said that amidst the ongoing global situation and high exports of wheat from India, demand for Indian wheat crop has been very high and this has led to farmers getting higher prices in the open market for their produce than MSP.
Furthermore, oilseeds are fetching higher market price in the domestic market.
"Both IMD and Skymet have forecast a normal monsoon this year, and that bodes very well for the upcoming Kharif season and will support continued growth for the tractor industry," Sikka added.
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