Mahindra & Mahindra Domestic Auto, Tractor Sales Rise 11% Each In May

Indian automotive manufacturer Mahindra & Mahindra’s (M&M) has announced its sales performance for the month ended 31 May, 2017 on Friday (1 June) in an official statement.

The company’s total domestic sales (passenger vehicles + commercial vehicles) went up by 11 percent and stood at 40,602 units. However, M&M’s total exports came down by 68 percent at 1,293 units.

For the concerned month, M&M sold 20,290 passenger vehicles, 16,255 commercial vehicles and 4,057 three-wheelers, thereby experiencing a year-on-year increase of 3 percent, 24 percent and 5 percent, respectively.  

Rajan Wadhera, President, Automotive Sector, M&M said, “Given the favourable monsoon projections and the focused investment in the rural sector, we have a robust outlook for future which is expected to spur demand.”

“The implementation of GST will be a significant game changer and we hope it benefits the auto industry. At Mahindra we look forward to a growth momentum on the back of our existing product portfolio as well as the upcoming new products,” added Wadhera.

Talking about M&M’s farm equipment sector, the company’s domestic tractor sales grew by 11 percent and exports by 18 percent, during the month of May 2017.

Overall, it sold 23,018 tractors when compared with 25,599 tractors in May 2016.

Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra said, “We hope that the announcement of record production estimates for major crops, coupled with higher minimum support price will drive positive sentiments and boost tractor demand in this season.”