Mahindra's sales jump 25% to 45,640 units in April, SUV segment grows 22%

Mahindra & Mahindra (M&M) on Monday said its total sales increased by 25 per cent to 45,640 units in April.

The company's total sales stood at 36,437 units in April 2021.

The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 23 per cent to 22,526 units last month against 18,285 in April last year, the auto major said in a statement.

Commercial vehicle sales increased to 20,411 units last month compared to 16,147 in April 2021.

The company said its exports last month stood at 2,703 units against 2,005 in the year-ago period.

"We continued our growth trajectory in the SUV segment with sales of 22,168 vehicles, registering a growth of 22 per cent. Our commercial vehicles registered growth across all segments, and exports were also up at 35 per cent," M&M President (Automotive Division) Veejay Nakra said.

Demand across products continues to be robust with strong booking numbers and pipeline, he added.

"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," Nakra stated.

The Mumbai-based company said the total domestic sales of its farm equipment sector last month stood at 39,405 units, against 26,130 units in April 2021.

Total tractor sales last month stood at 40,939 units compared to 27,523 a year ago.

Exports stood at 1,534 units in April.

"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," M&M President - Farm Equipment Sector Hemant Sikka noted.

Further, oilseeds are fetching higher market prices in the domestic market, he added.

"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," Sikka noted.