M&M auto sales grow 32% in January

Mahindra & Mahindra Ltd. (M&M Ltd.) on Thursday said it has sold 52,048 vehicles in January, up by 32 per cent, from 39,386 units sold in the year-ago month.

In the passenger vehicles segment which includes UVs, cars and vans, it sold 23,686 vehicles in January 2018, as against 20,169 vehicles during January 2017, registering a growth of 17 per cent.

The company's domestic sales stood at 49,432 vehicles during January, up by 33 per cent from 37,115 vehicles during the corresponding month last year.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "We are happy to have begun the calendar year with an overall healthy growth of 32 per cent. We have seen a good growth across our portfolio of products both personal and commercial."

In the medium and heavy commercial vehicles (MHCV) segment, the automobile major sold 1,049 vehicles for the month, registering a growth of 70 per cent.

Exports for January 2018 stood at 2,616 vehicles, a growth of 15 per cent over 2,271 units in the year-ago month.

Wadhera said the growth in the MHCV segment lends credence to the positive momentum in the economy, which can be seen even in the growth numbers of its small commercial vehicle portfolio.

"We believe this momentum will continue in our fourth quarter (of current fiscal) numbers," he said.

The automobile giant will display a slew of exciting products and mobility solutions in the upcoming Auto expo, in keeping with automotive trends such as shared mobility and last mile connectivity.

--IANS

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