Mahindra’s auto sector sells 32,499 vehicles during November 2016

India Infoline News Service | Mumbai | December 01, 2016 14:20 IST

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 13,217 vehicles in November 2016 as against 19,662 vehicles during November 2015. The company's domestic sales stood at 29,814 vehicles during November 2016, as against 39,383 vehicles during November 2015.

Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, announced its auto sales performance for November 2016 which stood at 32,499 vehicles compared to 41,590 vehicles during November 2015.
 
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 13,217 vehicles in November 2016 as against 19,662 vehicles during November 2015. The company's domestic sales stood at 29,814 vehicles during November 2016, as against 39,383 vehicles during November 2015.
 
Exports for November 2016 stood at 2,685 units registering a growth of 22% over November 2015. Commenting  on  the  auto  sales  performance  for  November  2016,  Pravin  Shah,  President  &    Chief Executive (Automotive), M&M Ltd. said, "While we expected  an improved  auto industry  performance  on the back of the festive season and other positive parameters such as rural demand and interest rates softening, the sudden announcement of demonetisation has brought in an immediate disruption and uncertainty. While it is a good and welcome step in the mid to long term, this has dampened overall sentiments leading to postponed buying thereby resulting in a  major  drop in  volumes  during November. This is significant as the automotive industry had just started experiencing stability post a long and tough period of uncertainty".
 
Shah   further   added,   'We   at Mahindra   are    working with    our network    partners    and customers by extending necessary help and support to mm1m1ze  the challenges currently being experienced. While we face these challenges, our exports continue to grow and had a growth of 22% during the last month".

Sales Summary November 2016
November YTD November
F17 F16 % Change F17 F16 %
Change
Passenger Vehicles 13217 19662 -33% 153463 145419 6%
Utility Vehicles 12416 18686 -34% 144011 135932 6%
Cars+ Vans 801 976 -18% 9452 9487 0%
Commercial Vehicles 12644 14801 -15% 113529 108631 5%
LCV < 3.5T 11837 14014 -16% 105211 101178 4%
LCV > 3.5T 451 333 35% 4884 4245 15%
MHCV 356 454 -22% 3434 3208 7%
3W 3953 4920 -20% 37304 38168 -2%
Total Domestic Sales 29814 39383 -24% 304296 292218 4%
Total Exports 2685 2207 22% 27918 23456 19%
Total Sales (Domestic
+ Export)
32499 41590 -22% 332214 315674 5%
 

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