Mahindra's Auto Sector sells 56,031 vehicles during March 2017
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 25,352 vehicles in March 2017 as against 26,885 vehicles during March 2016.
The company’s domestic sales stood at 53,322 vehicles during March 2017, as against 48,967 vehicles during March 2016, a growth of 9%.
In March 2017, the Medium and Heavy Commercial Vehicles segment sold 1,471 vehicles, registering a growth of 67%.
Exports for March 2017 stood at 2,709 vehicles.
For the financial year ended March 31, 2017, auto sales performance stood at 5,06,625 vehicles compared to 4,94,098 vehicles during FY2016, registering a growth of 3%.
Commenting on the performance for March 2017, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "At Mahindra, we have performed reasonably well on all our flagship products and have witnessed growth of 31% and 67% respectively in our commercial vehicles and MHCV segment for the month of March 2017. We are particularly happy that our new brands are gaining traction as together the KUV100 and TUV300 crossed the 1 lac vehicle sales milestone since its launch. However, the auto industry continues to see mixed reactions due to several external challenges and the more recent one being the unexpected verdict on the sale of BS3 vehicles that has derailed many planned operations. Going forward, factors such as the likely softening of interest rates, revision in fuel prices, GST implementation and the Union Budget's focus on rural are expected to bring back demand."
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