Mahindra Registers 12 Per Cent Growth In May 2018

Mahindra & Mahindra announced that it sold a total of 46,849 vehicle in the month of May as compared to 42,003 units in May 2017, thus registering a growth of 12 per cent. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 20,715 vehicles in May 2018, a growth of 2 per cent. In the commercial vehicle segment, the company sold 18,748 vehicles in May 2018, registering a growth of 15 per cent. The domestic sales stood at 43,818 vehicles during May 2018, up by 8 per cent. In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,152 vehicles for the month. Exports for May 2018 stood at 3,031 vehicles, with a high growth of 134 per cent.

Also Read: Mahindra Sales Report Of April 2018

The company launched the XUV500 facelift this year and is gearing up to launch a couple more products in the country by the end of this year. Mahindra will expect the sales to go up as it targets trending segments in the country by introducing a new MPV and a high-end premium SUV.

Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "May has relatively been a subdued month compared to April. At Mahindra we have by and large maintained our growth momentum during the month of May 2018, especially in Commercial Vehicles. On the back of a buoyant economy, our MHCV division continues to outperform. Exports have also been strong with a high growth. With the forecast of an upcoming normal monsoon we are confident of good growth in the coming months".