M&M records highest ever monthly sales of 64,486 vehicles in September 2022

21 Mar 2024 , 05:39 PM

The company has also achieved highest ever quarterly sales of 179,673 vehicles, registering a growth of 77% as against last year. The passenger vehicles segment (which includes utility vehicles, cars and vans) sold 34,508 vehicles in September 2022, up 163% YoY from 13,134 units sold in September 2021. The company sold 21,666 units of commercial vehicles (LCV+MHCV) in September 2022 as against 9,468 units sold in September 2021, recording a growth of 128.83%. 3 Wheeler (including electric 3Ws) sales soared 94% to 5,774 units in September 2022 from 2,981 units sold in the same period a year ago. Exports for the month were at 2,538 vehicles (up 0.36% YoY). According to Veejay Nakra, president, Automotive Division, M&M, ?September was a very exciting month with a strong start to the festive season. We continue to see very strong demand and performance across our portfolio of products, from SUVs, LCVs less than 3.5 tons and our Last Mile Mobility brands. We are delighted that our SUVs have registered the highest ever sales of 34,262 vehicles as well as highest ever overall volumes of 64,486 vehicles for the month of September.? Further, M&Ms Farm Equipment Sector (FES) announced its tractor sales numbers for September 2022. The companys total tractor sales (domestic + exports) surged 21% YoY to 48,713 units in September 2022 from 40,331 units sold in September 2021. Domestic tractor sales jumped 21% to 47,100 units while tractor exports climbed 26% to 1,613 units during the period under review. Commenting on the performance, Hemant Sikka, president - Farm Equipment Sector, Mahindra & Mahindra, said, ?We have sold 47,100 tractors in the domestic market during September 2022, a growth of 21% over last year. This is our highest ever sale in a month. Demand remained strong during the month owing to festive boost, which we expect to continue in October as well. With Kharif crop harvest starting soon and crop prices holding firm, the sentiment is positive. Above normal monsoon has improved the reservoir levels, leading to high moisture content in the soil, which is very positive for higher food grain production in the upcoming Rabi season. In the exports market, we have sold 1613 tractors with a growth of 26% over last year.? M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the worlds largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The company reported 66.9% rise in standalone net profit to Rs 1,430 crore on a 66.7% jump in revenue to Rs 19,613 crore in Q1 FY23 over Q1 FY22. Shares of Mahindra & Mahindra were down 1.33% to Rs 1,251.85 on the BSE. Powered by Capital Market - Live News