Mahindra sales up 14 pc at 58,416 units in October

Utility vehicles major Mahindra & Mahindra (M&M) Thursday reported 14 per cent increase in its total sales at 58,416 units in October.

The company had sold 51,160 units in the same month last year, M&M said in a statement.

In the domestic market, sales were up by 13 per cent at 55,350 units last month as compared to 48,860 units in October 2017.

Exports also increased 33 per cent at 3,066 units in October against 2,300 units in the same month last year.

Sales of passenger vehicles (which includes utility vehicles, cars and vans) were at 24,066 units, up by 3 per cent, as compared to 23,453 units in the same month last year.

Commercial vehicle sales were at 24,353 units in October, up by 26 per cent from 19,281 units in the year-ago period, M&M said.

"For past few months, the automotive industry has been witnessing subdued retail sales for passenger vehicles segment, because of low consumer buying sentiment. Therefore, one has to remain cautious on how the festive season ultimately turns out to be," M&M President Automotive Sector Rajan Wadhera said.