Mahindra Bags 10 Per Cent Growth In March; Becomes Top UV Maker In Q4 FY 2018

Mahindra and Mahindra has announced a sales growth of 10 per cent for the last month of the 2017-18 financial year. In March 2018, the company registered total sales of 62,077 vehicles, against the 56,202 vehicles sold during March 2017. The Utility Vehicle (UV) maker saw a similar 10 per cent growth in the domestic market as well, with sales of 58,653 vehicles, compared to the 58,653 units sold during the same month last year. Exports, on the other hand, saw the biggest leap last month, with 3,424 units, registering a growth of 26 per cent, against the 2,709 vehicles exported in March 2017.The company's total sales for the 2017-18 fiscal year went up to 5.49 lakh unit compared to 5.07 lakh units sold during the financial year before that, registering a growth of 8 per cent.

Passenger vehicle sales also went up by 4 per cent, with the company selling 26,555 units in March 2018, compared to the 25,523 units sold in March 2017. In Q4 (between January and March 2018) the company's UV sales stood at 67,805 units, against the 62,573 utility vehicles sold on the Q4 of FY 2017. With this, the company has also regained its position as the top UV maker in India, in the Q4.

Commenting on the company's performance, Rajan Wadhera, President, Automotive Sector, Mahindra, said, " Mahindra regained the No. 1 position in UV market share in Q4 F18 through a combination of factors and efforts. On the product front, power brands Bolero Power+ and the new all-powerful Scorpio saw demand growing in F18 while product and marketing interventions have brought increased traction for the TUV300 and the refreshed KUV100 NXT. Our focused rural strategy has led to increased network reach and penetration in rural and upcountry markets and brought us 12% overall growth in upcountry markets. Finally, our focus on digital has led to a strong 8 per cent sales contribution for key UV brands coming from online leads."

At the same time, the commercial vehicle division saw a growth of 11 per cent by selling 25,496 vehicles in March 2018, compared to the 22,908 vehicles sold during the same month last year. The three-wheeler sales, on the other hand, went up by 30 per cent with sale of 6,602 vehicles, compared to the 5,062 units sold during the same month last year.