M&M sales grow 7% in January

Mahindra & Mahindra Ltd. (M&M), on Friday said its auto sales grew by 7 per cent to 55,722 vehicles in January as against 52,063 units sold in the year-ago month.

The company's domestic sales touched 52,500 vehicles with a growth of 6 per cent during the last month, as against 49,432 units in the corresponding month last year.

The auto giant said the passenger vehicles segment (which includes utility vehicles, cars and vans) sold 23,872 vehicles in the month as compared to 23,686 units.

In the commercial vehicles segment, the company sold 22,625 vehicles in January, up by 8 per cent, as against 21,002 vehicles in the year-ago month.

"There is buoyancy in rural growth, commodity costs are levelling, fuel prices are coming down and we see improvement in forex movement, which in turn will drive positive customer sentiment," company's Rajan Wadhera, President, (Automotive Sector ) Rajan Wadhera said.

Exports for January 2019 stood at 3,222 vehicles with a growth of 22 per cent.

--IANS

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