Mahindra & Mahindra registers sale of 64,335 units in January 2023

1 Feb 2023 , 04:43 PM

Mahindra & Mahindra announced their January 2023 auto sales figures today. The company reported that a total of 64,335 vehicles were sold during the month. Within the Utility Vehicles category, a total of 32,915 vehicles were sold, while the Passenger Vehicles segment, encompassing Utility Vehicles, Cars, and Vans, saw sales of 33,040 vehicles.

The company logged export figures for January 2023 at 3,009 units. The company’s Commercial Vehicles segment also performed well, with sales totaling 21,724 vehicles for the month. 

Despite challenges posed by disruptions in the supply chain for crash sensors and airbag ECUs due to a shortage of semiconductors, Mahindra & Mahindra Ltd’s Utility Vehicle sales remained steadfast, said the company in its statement.

Mahindra & Mahindra Ltd hit the ground running in January 2023 with the successful launches of the Thar RWD and their first all-electric SUV, the XUV400. Customers have been overwhelmingly supportive of these new offerings, as evidenced by the impressive growth in the company’s utility vehicle sales, which rose by 66%. 

The success of these launches contributed to an overall growth of 37% in the company’s sales, stated Veejay Nakra, President of the Automotive Division at M&M Ltd.

Mahindra & Mahindra’s stock ended 2.08% lower at Rs1,350.10 apiece, against its previous close of Rs1,378.75 on NSE.

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