Mahindra & Mahindra recorded a year-on-year (YoY) sales growth of 109 per cent in June 2021 selling 16,913 units in the domestic market as compared to 8,075 units sold in the same month a year ago. The robust uptick is primarily attributed to sales picking up owing to the pent up demand after the second wave of COVID crisis in the month of May and also because sales in June last year were more subdued comparatively leading to a low base, as market was still dwindling from the aftershock of the nationwide lockdown. But now the company is recovering faster as its month-on-month (MoM) sales went up by 111.30 per cent as it sold 8,004 units in the previous month.
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Mahindra also recorded a healthy growth in the Q1 of FY2022.
In the utility vehicle segment, Mahindra witnessed an uptick of 109 per cent selling 16,636 units as compared to 7,958 units the company sold a year ago and in the cars + vans segment sales went up by 137 per cent at 277 unis as compared to 117 units sold a year ago. Coming to its quarterly sales performance, Mahindra & Mahindra recorded an uptick of 262 per cent in Q1 FY2022 at 43,202 units as compared to 11,942 units it sold in the corresponding quarter a year ago.
Veejay Nakra, Chief Executive Officer, Automotive Division- Mahindra & Mahindra said, "With the opening up of the market in a phased manner, we are seeing a boost in demand in both urban and rural and we expect the upward trend in demand to continue across all segments and markets. As we come out of the second wave of the pandemic, by and large our supply chain has stabilised except for the global semiconductor issue, which still continues to be a challenge that we are addressing as top priority".
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Mahindra has also performed well in its CV business.
In its commercial vehicle (CV) business, Mahindra recorded a growth of 28.89 per cent selling 13,444 units in June 2021 as compared to 10,430 units sold in the same month a year ago. On year-to-date (YTD) basis, its sales surged by 137.22 per cent at 37,099 units sold in the April - June FY2021 period as compared to 15,639 units sold in the corresponding quarter a year ago. As for exports, the automaker exported a total of 2,607 units in June 2021 which is an increase of 206 per cent when compared 853 units exported a year ago. Again on YTD basis, its exports went up by 216 per cent at 6,547 units as compared to 2,070 units exported a year ago.
