Mahindra Auto clocks its highest ever SUVs volume in February 2022 with 27,551 vehicles; Stock gains

2 Mar 2022 , 09:24 AM

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, on Tuesday announced that its overall auto sales for the month of February 2022 stood at 54455 vehicles, registering a growth of 89% yoy.

In the Utility Vehicles segment, Mahindra achieved the highest ever monthly volume at 27551 vehicles in February 2022, a rise of 79% yoy from 15,380 units sold in February 2021. The Passenger Vehicles segment (which includes UVs, Cars, and Vans) sold 27663 vehicles in February 2022. Exports for the month were at 2814 vehicles.

In the Commercial Vehicles segment, Mahindra sold 20166 vehicles in February 2022 with growth of 119%.

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

At around 9.27 am, Mahindra & Mahindra Ltd was trading at Rs796.90 per share up by Rs5.95 or 0.75% from its previous closing of Rs790.95 per share on the BSE.

Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., said, “With an overall sale of 54455 vehicles, we have achieved a growth of 89% in February 2022. All segments showed robust growth including SUVs at 79%, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. We continue to closely monitor the semiconductor related parts supply and take corrective action as appropriate.”