M&M records sales of 54,096 vehicles in June22

2 Jul 2022 , 08:34 AM

The passenger vehicles segment (which includes UVs, cars and vans) sold 26,880 vehicles (up 59% YoY) in June 2022. Exports for the month were at 2,777 vehicles (up 7% YoY). In the commercial vehicles segment, Mahindra sold 20,431 vehicles (up 61% YoY) in June 2022. It sold 4,008 3-wheelers in June 2022 as against 750 units sold in the same period last year. 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 June 2022, the company said. Veejay Nakra, president, Automotive Division, M&M, Q1FY23 is our second consecutive highest SUV sales quarter. We sold 26,620 SUVs in June and overall, 54,096 vehicles, registering a growth of 64%. The supply chain situation continues to remain dynamic; we are monitoring the situation closely. In the Farm Equipment Sector (FES), M&M sold 41,848 tractors in June 2022 as against sales of 48,222 tractors recorded in the same period last year, registering a degrowth of 13% YoY. Domestic tractor sales in June 2022 were at 39,825 units (down 15% YoY). Exports for the month stood at 2,023 units (up 50% YoY). Hemant Sikka, president – Farm Equipment Sector, M&M, said, With good prices for Rabi output, cash flow with farmers is good. Governments approval on increase in MSP for all Kharif crops and forecast of a normal monsoon is very positive for a bumper Kharif crop. Though Kharif sowing is lagging in the first fortnight of the season than last year due to deficient rainfall in key kharif states, further advancement of Southwest monsoons across the country brings in positive sentiments and is likely to boost the tractor demands in the coming months. M&M enjoys a leadership position in farm equipment and utility vehicles in India and is the worlds largest tractor company by volume. It offers a wide range of products and solutions ranging from SUVs, pickups, commercial vehicles, and tractors, to electric vehicles, two-wheelers, and construction equipment. On a consolidated basis, M&Ms net profit (continuing operations) surged 48% to Rs 2,237 crore on a 21% increase in revenue to Rs 25,934 crore in Q4 FY22 over Q4 FY21. The scrip added 1.22% to end at Rs 1108.40 on the BSE yesterday. Powered by Capital Market – Live News