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Informist, Tuesday, Oct. 1, 2024

 

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--M&M Sept total vehicle sales 87,839 units, up 16% on year 
--M&M Sept total tractor sales 44,256 units vs 43,210 units year ago 
--M&M Sept domestic tractor sales 43,201 units vs 42,034 units year ago 
--M&M Sept tractor exports 1,055 units vs 1,176 units year ago 
--M&M Sept utility vehicle sales 51,062 units vs 41,267 units year ago 
--M&M Sept three-wheeler sales 10,044 units vs 7,921 units year ago 
--M&M Sept total exports 3,027 units vs 2,419 units year ago 

 

MUMBAI – Mahindra & Mahindra Ltd Tuesday said its total sales for September were 87,839 units, up 16% on year and 14% over August. In the passenger vehicle category, the company reported sales of 51,062 units in India in September.

 

Sales in the segment, which comprised only utility vehicles this September, registered a growth of 24% on year and 18% on month. The company sold 10,044 three-wheelers, including electric three-wheelers, up 27% on year and 8% on month.

 

Mahindra & Mahindra sold 23,706 units in the commercial vehicle segment, down 1.2% on year but up 12% on month. The company sold 3,444 units in the less-than-2-tonnne light commercial vehicles segment, down 13% on year but up 16% on month.

 

In the 2-to-3.5-tonne light commercial vehicles segment, the company sold 16,988 units, down 3% on year but up 16% on month. The automaker sold 3,274 units in the more-than-3.5-tn category light commercial vehicles and the medium and heavy vehicles segment, up 25% on year but down 6% on month.

 

It sold 43,201 tractors, up 3% on year and 111% on month. "We have sold 43,201 tractors in the domestic market during September, a growth of 3% over last year. Monsoon rainfall has seen an increase of 7.5% over low pressure area and this has helped increase in Kharif sowing of all crops except cotton," Hemant Sikka, president of farm equipment sector, Mahindra & Mahindra, said.

 

"Reservoir levels have recovered very well and are now at 13% higher than low pressure area, which augurs very well for a bumper Rabi crop. On the back of good kharif crop and likely strong rabi crop, rural sentiments are positive. With positive terms of trade for farmers and upcoming festivals, we expect robust demand for tractors going forward. In the exports market, we have sold 1,055 tractors," Sikka said.

 

The company exported a total of 3,027 units, up 25% on year but down 1% on month. At 0953 IST, the automaker's shares traded at INR 3,128.50 on the National Stock Exchange, up 1%.  End

 

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by B. Gopika

Edited by Deepshikha Bhardwaj

 

 

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