Mahindra registers 5% growth in passenger car sales in September
The cars and vans segment registered a large growth of 57% as it sales grew to 1,331 units from 847 units in the same period last year.
Mahindra & Mahindra’s (M&M) domestic passenger vehicle (PV) sales grew by 5% in September. The PV segment (which includes utility vehicles, cars and vans) sold grew to 20,537 vehicles in September 2016 as against 19,564 vehicles during September 2015, said the company in a release.
The cars and vans segment registered a large growth of 57% as it sales grew to 1,331 units from 847 units in the same period last year. The utility vehicle segment of the company however saw only a 3% growth with the sale of 19,206 units in September 2016 from 18,717 units in the same month last year.
Overall domestic sales grew by 7% to 42,545 units in September this year from 39,693 units in the same time period last year. This also includes the sales from commercial vehicles (11%) light commercial vehicles (14%), Medium and Heavy Commercial Vehicles (MHCV) (-29%) and three wheelers (4%).
Pravin Shah, President and CEO (Automotive), M&M said that the growth was due to a good and near normal spread of monsoon as well as new vehicle launches. “We do hope that the upcoming festive season brings in better demand due to improvements in sentiments. We are happy to achieve an 11% growth during the first six months of the current financial in spite of various uncertainties and challenges. Our exports during the six month period have seen a good growth of 18%. We hope to continue this momentum for the remainder part of the year.”
Exports in September grew by 18% and stood at 3,585 units from 3,155 units in the same month last year.