M&M total sales jump 25% YoY in April 2022

2 May 2022 , 11:02 AM

Sequentially, the automobile majors total sales dropped 16.47% from 54,643 units from March 2021.

Mahindra & Mahindras (M&M) passenger vehicles sales jumped 23% to 22,526 units in April 2022 as against 18,285 units in April 2021. In the utility vehicles segment, M&M sold 22,168 vehicles in April 2022, growing 22% year-on-year (YoY). Total exports for the month surged 35% to 2,703 vehicles in April 2022 over 2,005 units in April 2021.

In the commercial vehicles segment, the company sold 17,402 vehicles in April 2022 with growth of 23%. 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 April 2022.

According to Veejay Nakra, president, automotive division of M&M, said, ?We continued our growth trajectory in the SUV segment with sales of 22168 vehicles registering a growth of 22%. Our Commercial Vehicles registered growth across all segments and exports were also up at 35%. Demand across our products continues to be robust with strong booking numbers and pipeline. There were a number of supply chain challenges due to lockdown in China. We continue monitoring the developments closely and will take corrective action as appropriate.?

Further, M&Ms Farm Equipment Sector (FES) announced its tractor sales numbers for April 2022. Total tractor sales (Domestic + Exports) during April 2022 stood at 40,939 units, as against 27,523 units for the same period last year, registering a growth of 49%. Domestic tractor sales surged 51% to 39,405 units while tractor exports advanced 10% to 1,534 units during the period under review.

Commenting on the performance, Hemant Sikka, president – Farm Equipment Sector, Mahindra & Mahindra said, ?We have sold 39,405 tractors in the domestic market during April 2022, at a growth of 51% over last year. Our business witnessed strong growth with demand drivers staying on course. Rabi harvesting has progressed well across markets. Amidst the ongoing global situation and high exports of wheat from India, demand for Indian wheat crop has been very high and this has led to farmers getting higher prices in the open market for their produce than MSP. Furthermore, oilseeds are fetching higher market price in the domestic market. Both IMD and Skymet have forecasted a normal monsoon for this year, and this bodes very well for the upcoming Kharif season and will support continued growth for the tractor industry. In the exports market, we have sold 1,534 tractors, at a growth of 10% over last year.?

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.

Mahindra & Mahindras (M&M) consolidated net profit surged 127.2% to Rs 1,828.69 crore on a 9.1% increase in net sales to Rs 23,594.46 crore in Q3 December 2021 over Q3 December 2020.

Shares of Mahindra & Mahindra fell 0.07% to Rs 921.35 on BSE.

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