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Informist, Wednesday, Jan. 1, 2025

 

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--M&M total vehicle sales 69,768 units in Dec, up 16% on year 
--M&M Dec domestic utility vehicle sales 41,424 units, up 18% on year 
--M&M domestic three-wheeler sales 5,750 units in Dec, up 8% on year 
--M&M total exports 3,092 units in Dec, up 70% on year 
--M&M Dec total tractor sales 22,943 units, up 20% on year 
--M&M Dec domestic tractor sales 22,019 units, up 22% on year 
--M&M Dec tractor exports 924 units, down 17% on year 
--M&M domestic CV sales 19,502 units in Dec vs 17,888 units year ago 

 

MUMBAI – Mahindra & Mahindra Ltd. on Wednesday reported a 16% on-year growth in overall automobile sales in December as all segments recorded strong growth in despatches. The automaker sold a total of 69,768 units in December, compared to 60,188 units in the year-ago period and 79,083 units in November, according to an exchange filing by the company.

 

In December, the Mumbai-based company sold 41,424 passenger vehicles in India, registering a growth of 18% on-year. The utility vehicle sales accounted entirely for the passenger vehicle despatches during the month. In November, M&M had sold 46,222 utility vehicles in India. Currently, it offers sport utility vehicles such as the Thar, Scorpio, Bolero, XUV 3XO and XUV 700 in the internal combustion engine category, and in the electric vehicle category it offers XUV 400, XEV 9e and BE 6.

 

In the commercial vehicle segment, M&M sold 19,502 units in December, up 9% on year, driven by higher despatches of 2.0-3.5 tonne capacity light commercial vehicles. The automaker sold 16,139 units of 2.0-3.5 tonne capacity light commercial vehicles during the month, up 16% on year. This category contributed to nearly 83% of the commercial vehicles despatches by M&M in December. 

 

In the less-than-2-tonne capacity light commercial vehicle category, the company sold 2,409 units in December, down 15% on year. This is the lowest monthly sales recorded by the company in this category since September 2021. In the more than 3.5 tonne capacity light commercial vehicle and medium and heavy commercial vehicle category, the company sold 954 units during the month, down 12% on year. In the three-wheeler category, the company sold 5,750 units in December, up 8% on year. 

 

During Apr-Dec, the company sold a total of 688,087 vehicles, up 13% on year. This included despatches of passenger and commercial vehicles and three-wheelers. During the period, M&M sold a total of 402,360 passenger vehicles in India, up 21% on year. In comparison, its commercial vehicle sales were flat on year at 197,393 units, and three-wheeler sales rose 6% on year to 64,233 units.

 

In December, the company's exports surged by a massive 70% on-year to 3,092 units. It dispatched 1,534 utility vehicles to international markets during the month. During Apr-Dec, the company exported a total of 24,101 units, registering a growth of 22% on year.

 

TRACTOR SALES 

In the farm equipment segment, M&M recorded 20% growth in overall tractor sales on the back of strong growth in domestic despatches. The company sold 22,943 tractors in December. While its India despatches rose 22% on year to 22,019 units, exports fell 17% on year to 924 units.

 

"Sentiments have remained positive in December on account of positive cash flow momentum from the Kharif harvest. Additionally, favourable reservoir levels have resulted in strong sowing for the rabi season, further bolstering demand for tractors," Hemant Sikka, president of farm equipment sector, Mahindra & Mahindra, said in a press release. "Looking ahead, the tractor industry is poised for significant growth, underpinned by positive agricultural sentiments and favourable terms of trade for farmers," Sikka said.

 

Between April and December, the company sold a total of 336,623 tractors, a growth of 10% on year. During this period, while the company's domestic sales were up 9%, its exports were up 28%. 

 

For Jul-Sept, M&M earned a net profit of INR 38.41 billion on a top line of INR 275.53 billion. At 1137 IST, shares of the automaker were trading at INR 3,056.20 on the National Stock Exchange, up 1.6%.  End

 

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

 

Reported by Darshan Nakhwa 

Edited by Deepshikha Bhardwaj

 

 

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