Mahindra sales up 2% at 55,022 units in September

Utility vehicles major Mahindra & Mahindra (M&M) Monday reported 2 per cent increase in total sales at 55,022 units in September.

The company had sold 53,752 units in the same month last year, M&M said in a statement.

In the domestic market, sales were up one per cent at 51,268 units last month as compared to 50,545 units in September 2017.

Exports also increased 17 per cent at 3,754 units in September against 3,207 units in the same month last year.

Sales of passenger vehicles (which includes UVs, cars and vans) were at 21,411 units, down 16 per cent, as compared to 25,414 units in the same month last year.

Commercial vehicle sales were at 22,917 units in September, up 19 per cent from 19,203 units in the year-ago period, M&M said.

"The month of September has been muted for passenger vehicles due to factors such as low consumer buying sentiment, high fuel prices and the effects of monsoon in many parts of the country," M&M President Automotive Sector Rajan Wadhera said.

The company remains hopeful that the upcoming festive season will augur well for it as well as the automotive industry, he added.