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Informist, Saturday, Mar. 1, 2025

 

--M&M total vehicle sales 83,702 units in Feb 

--M&M Feb domestic utility vehicle sales 50,420 units, up 19% on year 
--M&M domestic CV sales 23,826 units in Feb 
--M&M domestic three-wheeler sales 6,395 units in Feb, up 4% on year 
--M&M exports 3,061 units in Feb, up 99% on year 
--M&M Feb total tractor sales 25,527 units, up 18% on year 
--M&M Feb domestic tractor sales 23,880 units, up 19% on year 
--M&M Feb tractor exports 1,647 units, up 6% on year 
--M&M Apr-Feb total tractor sales 389,707 units, up 11% on year 
 

MUMBAI – Mahindra & Mahindra Ltd.'s passenger vehicle despatches in February grew at the highest rate since October, highlighting India's continued, robust appetite for sport utility vehicles. Yet, weak demand momentum continued to hamper the growth of its commercial vehicle despatches.

 

M&M sold 50,420 sport utility vehicles to dealers in February, 19% higher year on year, as per its exchange filing Saturday. In India, M&M's utility vehicle sales in the first 11 months of the ongoing financial year ending Mar. 31 were at 503,439 units, 20% higher on year. "This strong performance is a result of a continued positive momentum for our SUV portfolio," said Veejay Nakra, the president of M&M's automotive division.

 

Overall, M&M despatched 83,702 units in February in India and abroad, 15% higher on year. Exports by the company rose 99% on year to 3,061 in February. In Apr-Feb, the company sold 30,566 units to dealers overseas, 32% more than it did last year. 

 

Wholesale sales of commercial vehicles in India in February grew at a modest 4.4% to 23,826 units. M&M's light commercial vehicles in the less-than-2 tonne range saw a 21?cline in despatches to 3,290 units while those in the 2.0-3.5 tonnes range grew 9% to 19,155 units in February. Sales of light commercial vehicles with tonnage exceeding 3.5 and medium-heavy commercial vehicles grew 23% on year to 1,381 units. Despatches of M&M's commercial vehicles in the first 11 months of 2024-25 (Apr-Mar) increased by about a percent to 245,136 units.

 

Despatches of M&M's three-wheelers in India increased by 4% on year to 6,395 units in February while in Apr-Feb, it grew 8% on year to 78,080 units.

 

M&M's tractor wholesale sales in February was 25,527 units, 18% higher year on year. In India, its tractor despatches increased 19% on year to 23,880 units in February. "After a good Kharif crop, Rabi crop outlook is also looking positive due to favourable weather conditions. Increase in Agri credit limit, continued Government support to increase farmer incomes and a bumper Rabi harvest will help boost tractor demand going forward," said Hemant Sikka, president of M&M's farm equipment sector business. Despatches in Apr-Feb of its farm equipment in India was 374,512 units, 10% higher on year.

 

M&M exported 1,647 tractors in February, 6% higher on year while in Apr-Feb, its exports grew 25% to 15,195 units. Exports include sales of completely knocked down units. 

 

For Oct-Dec, M&M's net profit was INR 29.64 billion on revenues of INR 305.38 billion. Friday, its shares closed at 2,585.10 on the National Stock Exchange, down 5.2%.  End

 

Reported by Anand JC

Edited by Akul Nishant Akhoury

 

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