M&M’s overall sales up 4% in August

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Mumbai, Sep 1 (IANS) Leading SUV manufacturer Mahindra and Mahindra (M&M) on Friday reported a rise of four per cent in its overall sales for August.

According to M&M, its total sales for the month increased to 42,116 units from 40,591 units sold during August 2016.

Domestic sales were higher by seven per cent at 39,534 vehicles during last month from 36,944 units sold during the same month last year.

“Our LCV (light commercial vehicle) <3.5T grew by 18 per cent and MHCVs (medium and heavy commercial vehicle) registered a whooping growth of 45 per cent. This upsurge in demand has been due to good monsoons and our rural penetration,” said Rajan Wadhera, President, Automotive Sector, M&M.

“Our passenger vehicles grew by 6 per cent and our overall sales grew by 4 per cent… As we get into festive season, we are confident of a good growth over the next couple of months, on the back of our diversified product portfolio,” he added.

However, the company reported a decline in exports by 29 per cent with 2,582 units being shipped out during August 2017, down from 3,647 units sold abroad in the like period of 2016.

–IANS

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