SUVs drive Mahindra & Mahindra’s 14% auto sales growth in May to 61,415 vehicles
- Passenger vehicle sales hit 32,886 units in May compared with 26,904 units a year earlier.
- The company’s total tractor sales, however, was down 4% on year at 34,126 units.
- Total exports were at 2,616 units in May, up 29% from last year.
AdvertisementSports utility vehicles boosted sales of yet another automaker in May. Mahindra & Mahindra Ltd (M&M) on Thursday reported a 14% growth in overall auto sales for the month of May 2023 at 61,415 vehicles. However, supply constraints restricted sales during the month, it said in a regulatory filing.
Passenger vehicle sales saw a 22% increase to 32,886 units in May, as compared to the same month last year. Utility vehicle sales last month were at 32,883 units, as against 26,632 units in the year-ago period, a growth of 23%, it said.
"We continue our growth trend, backed by strong demand in SUVs," M&M president, of the automotive division Veejay Nakra said.
He, however, said, "The sales volume for both SUVs and 'Pik-Ups' were restricted by a short-term disruption in engine-related parts at the supplier-end. The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too."
Sales of cars and vans were at 3 units as compared to 272 units in May last year.
Total exports were at 2,616 units last month, up 29% from 2,028 units in May 2022, the company said.
In the farm equipment sector, M&M said its total tractor sales were at 34,126 units as compared to 35,722 units in May last year, down 4%.
Domestic tractor sales declined 3% at 33,113 units as compared to 34,153 units in the same month a year ago.
Hemant Sikka, president of farm equipment sector, Mahindra & Mahindra Ltd. said, “We have sold 33,113 tractors in the domestic market during May ’23. Record high Rabi crop output, good reservoir levels, improved terms of trade for farmers and IMD's prediction of a normal southwest monsoon augurs well for the upcoming Kharif season.”
Tractor exports were also down 35% at 1,013 units from 1,569 units in May 2022, M&M said.
|Category||May FY24||May FY23||% Change|
|Cars + Vans||3||272||-99%|
|Passenger Vehicles (domestic)||32886||26904||22%|
|Commercial Vehicles and 3 Wheelers Sales Summary (Domestic)|
|LCV < 2T||2913||3228||-10%|
|LCV 2 T – 3.5 T||16140||17289||-7%|
|LCV > 3.5T + MHCV||1009||632||60%|
|3 Wheelers (including electric 3Ws)||5851||3645||61%|
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