On Saturday, Mahindra & Mahindra reported that the company has posted a 16% increase to 45,101 units in November 2018 from 38,570 ones in the same period last year.
Of the total 45,101 units sold last month, domestic sales stood at 41,564 units in comparison with 36,309 vehicles sold in the same month in 2017. Total exports in November 2018 were recorded to be 3,537 units, increasing by 40% from 2,531 units last year. Utility vehicles sales consisting of well-known models like the XUV500 and the 36,039 units also experienced a 1% increase, from 14,958 units in November 2017 to 15,049 units in November this year. Commercial vehicles sales in November also increased by 26% last month, standing at 19,673 unit against 15,554 units in the same month last year.
Mahindra & Mahindra experienced a 16% increase in sales last month
Commenting on the sales growth, M&M President, Automotive Sector, Rajan Wadhera stated,
“We have registered a double-digit growth in our overall sales. However, adverse macroeconomic conditions have impacted the growth forecast for the automotive industry in general.”
He also associated the increase in the company’s sales with the success of the new products like the Marazzo and the recently-launched Alturas G4.
Rajan Wadhera associated the sale growth with the good performance of the Marazzo and the Alturas G4
Talking about the future, he stated,
“Going forward, we hope that decrease in fuel prices and improving liquidity will drive demand for passenger vehicles.”
In general, the Indian automotive industry has been negatively impacted by the unfavourable macroeconomic conditions, which has lead to a decrease in the sales of some major auto manufacturers such as Tata and Ford . However, Mahindra has experienced sale growth in November, which can be attributed to the success of some of the company’s new products. The home-grown automaker has put stable steps in the journey to becoming the leading brand in India and also reinforced its prestige with Indian auto buyers.
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