Auto Output
M&M's total automobile output at 78,364 units in Sept, down 1.7% on year
This story was originally published at 21:36 IST on 8 October 2024
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MUMBAI – Mahindra and Mahindra Ltd. Tuesday said its total automobile production in September fell to 78,364 units, down 1.7% from 79,747 units a year ago due to a fall in commercial vehicle production. The company's September production was almost flat when compared to its total production of 78,414 units in August.
The Mumbai-based automobile company produced 46,110 utility vehicles, up 5.4% from 43,735 units a year ago. In the utility vehicles segment, the company produced 12,905 units of 'Scorpio', up 1% from 12,766 units a year ago, Mahindra said in an exchange filing. In September, the company didn't produce the diesel variant of 'XUV300' and 'Marazzo'. Mahindra produced 2,429 units of the diesel variant of 'XUV300' in September 2023. The company's production of the diesel and electric variants of 'XUV 3XO' and 'XUV400' surged to 3,395 units from 370 units a year ago. The company launched 'XUV 3XO' in the first quarter of the current financial year. Mahindra said it produced 6,912 units of the petrol variant of 'XUV 3XO' in September this year.
The 5.4% growth in utility vehicle production was offset by a fall in the company's commercial vehicle production. In the commercial vehicle segment, the company produced 21,527 units, down 23% from 27,906 units a year ago and down 1% from the previous month. Mahindra manufactured 10,702 three-wheelers, including both passenger carriers and goods carriers, in September. This is 32% more than the 8,091 units produced a year ago. Out of the total three-wheelers produced, the company produced 9,099 passenger carriers, up from 6,879 units a year ago, and 1,603 goods carriers, up from 1,212 units a year ago. Overall, the company produced 9,678 electric three-wheelers in September, up 30% from 7,444 units a year ago.
The company had earlier said it had sold 84,812 vehicles in India in September, up 16% from 73,185 units a year ago and has exported 3,027 vehicles, up 25% from 2,419 units a year ago. Mahindra & Mahindra reported a net profit of INR 26.13 billion for the June quarter on revenues of INR 271.33 billion. On Tuesday, shares of the company closed at INR 3,165.85 on the National Stock Exchange, up 3.5%. End
Reported by Aman Aryan
Edited by Deepshikha Bhardwaj
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