Friday, 4 September 2020

Mahindra’s Auto Sector sells

Mahindra’s Auto Sector sells 30,426 vehicles in August 2020

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced its auto sales performance for the month of August 2020.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 13,651 vehicles in August 2020, compared to 13,507 vehicles in August 2019, registering a marginal growth of 1%.

In the Commercial Vehicles segment, the company sold 15,299 vehicles in August 2020, as against 14,684 vehicles in August 2019, a growth of 4%.

Exports for the month of August 2020 were at 1,169 vehicles.

The company’s overall automotive sales (Domestic+Exports) stood at 30,426 vehicles in August 2020, compared to 36,085 vehicles during August 2019.

Commenting on the performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said,At Mahindra, we continue to see good recovery in demand both for SUVs and Pick-ups in the Small Commercial Vehicles segment. For the month of August, we have registered growth in both SUVs and Pick-ups. We have been able to meet the uplift in demand by managing the supply chain challenges and going forward will continue to keep our focus on it.

Sales Summary August 2020


Category
August
YTD August
F21
F20
% Change
F21
F20
% Change
Passenger Vehicles
13651
13507
1%
36618
89738
-59%
Utility Vehicles
13407
13037
3%
36008
85135
-58%
Cars* + Vans
244
470
-48%
610
4603
-87%
Commercial Vehicles
15299
14684
4%
43989
82247
-47%
LCV < 3.5T
15097
13855
9%
43528
76197
-43%
LCV > 3.5T
98
475
-79%
197
3463
-94%
MHCV
104
354
-71%
264
2587
-90%
3W
307
5373
-94%
442
23183
-98%
Total Domestic Sales
29257
33564
-13%
81049
195168
-58%
Total Exports
1169
2521
-54%
4706
12748
-63%
Total Sales (Domestic + Export)
30426
36085
-16%
85755
207916
-59%

Mahindra’s Farm Equipment Sector Sells 23,503 Units in India during
August 2020

Witnesses a growth of 69%

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for August 2020.

Domestic sales in August 2020 were at 23,503 units, as against 13,871 units during August 2019.

Total tractor sales (Domestic + Exports) during August 2020 were at 24,458 units, as against 14,817 units for the same period last year.

Exports for the month stood at 955 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 23,503 tractors in the domestic market during August 2020, a growth of 69% over last year. On the back of highest ever sales in July, we have clocked yet another highest ever sales in August. 

The Tractor industry growth continues to remain strong in August. This is primarily on account of continued positive sentiment, due to increase in Kharif sowing area, thereby indicating a bumper harvest, bountiful monsoon, good rural cash flows and base effect. We expect rural sentiments to remain positive and translate into robust tractor demand as we move into the festive period. In the exports market, we have sold 955 tractors, a growth of 1% over last year.”


Farm Equipment Sector (FD+SD+Gromax)

August
Cumulative August

F20
F21
%Change
F20
F21
%Change







Domestic
13871
23503
69%
115958
112543
-3%







Exports
946
955
1%
5201
2974
-43%







Total
14817
24458
65%
121159
115517
-5%
 



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