Mahindra & Mahindra reports 14% y-o-y growth in May sales at 61,415 units

1 Jun 2023 , 03:02 PM

Mahindra & Mahindra announced its sales for the month of May 2023 and reported total sales of 61,415 units. Total YTD sales stood at 1,23,709 units in FY24.

The company said that in the utility vehicles segment, it sold 32,883 units in the domestic market and registered overall sales of 33,931 units, including exports.

Mahindra reported a 29% y-o-y growth in its export sales for May 2023 at 2,616 units compared to 2,028 units in May 2022.

Company’s domestic sales of Small Commercial Vehicles (LCV<3.5T) stood at 19,053 units. A short-term disruption in engine-related parts at the supplier end led to a restriction in sales volume for both SUVs and Pik-Ups.

Further, the company iterated that the semiconductor supply constraints on certain parts like Air Bag ECU continued even this month.

For 2MFY24, the company reported sales of 67,577 units in the utility vehicles segment, up by 38% y-o-y compared to 48,800 units in the previous corresponding period.

At around 2.58 PM, Mahindra & Mahindra was trading at Rs 1,320.40, up by 0.11% against the previous close of Rs 1,319 on NSE.

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