M-;M registers 20% yoy growth in January sales at 46,804 vehicles, tractor sales decline

1 Feb 2022 , 03:06 PM

Mahindra & Mahindra Ltd. today announced that its overall auto sales for the month of January 2022 stood at 46804 vehicles – registering a growth of 20% yoy.

In the Utility Vehicles segment, Mahindra sold 19848 vehicles in January 2022. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19964 vehicles in January 2022. Exports for the month of January 2022 were at 2861 vehicles.

In the Commercial Vehicles segment, Mahindra sold 21111 vehicles in January 2022 with growth of 58%.

All the Light Commercial Vehicle Segments of <2T, Pickups (2T to 3.5T), >3.5T, and the heavy commercial vehicles continued their growth trajectory in January 2022.

In the last half hour of trade on Tuesday, Mahindra & Mahindra Ltd was trading at Rs868.75 per piece down by Rs16.25 or 1.84% from its previous closing of Rs885 per piece on the BSE.

Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., “We continued our growth trajectory with an overall growth of 20% in January 2022. Our Commercial Vehicles registered growth across all segments and ended the month with an overall impressive growth of 58%.

We launched the ‘Highest Mileage or Give Truck Back’ guarantee on our entire HCV, ICV & LCV truck range, which has received a very positive response from the market. Despite various global supply chain challenges, we fulfilled our commitment of billing the first 14000 XUV700s by January 2022 and have registered close to 1,00,000 bookings since launch, a major milestone in the Indian SUV Industry. We continue to closely monitor the semi-conductor related parts issue and take corrective action as appropriate.”

Mahindra’s Farm Equipment Sector Sells 21162 Units

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for January 2022.

Domestic sales in January 2022 were at 21162 units, as against 33562 units during January 2021.

Total tractor sales (Domestic + Exports) during January 2022 were at 22682 units, as against 34778 units for the same period last year. Exports for the month stood at 1520 units.

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21162 tractors in the domestic market during January 2022. On the back of good rainfall and high moisture content in the soil, Rabi sowing has been very good, and this bodes very well for a bumper crop harvest.

Continued Government focus on agriculture, rural infrastructure and higher cash flows with rabi harvest, will lead to positive sentiments and increase in tractor demand. In the exports market, we have sold 1520 tractors, registering a growth of 25% over last year.”