Mahindra Registers 7 Per Cent Growth In January 2019

Mahindra and Mahindra, the leading utility vehicle manufacturer, has released its monthly sale report for January 2019, and last month the company registered a total growth of 7 per cent. The carmakers' total sales, domestic and exports combined, in January 2019 reached 55,722 units, against the 52,063 units sold during the same month last year. The company's overall domestic sales saw a similar growth of 6 per cent with 52,500 units, compared to the 49,432 units sold in January 2018. Exports, on the other hand, saw double digit growth of 22 per cent, with 3222 units, compared to the 2,631 units exported in January 2018.

In the domestic market, the company's passenger vehicle sales saw a marginal hike of 1 per cent, selling 23,872 units in January 2019, compared to the 23,686 units sold during the same month last year. In January 2019, growth in Mahindra's utility vehicle sales was next to negligible with the company selling 22263 units compared to the 22235 units sold during the same month in 2018. On the other hand, sales from car and vans segment saw a growth of 11 per cent, reaching 1609 units, against 1451 units sold in January 2018, most of which came from EV sales made by Mahindra Electric.

(Mahindra sales from car and vans segment saw a growth of 11 per cent, most of which came from EV sales)

Mahindra's commercial vehicle sales saw an overall hike of 8 per cent with 22,625 units sold last month, compared to the 21,002 units sold in January 2018. While light commercial vehicles, both below 3.5-tonne and above 3.5-tonne, saw a growth of 8-9 per cent, the medium to heavy commercial vehicle segment saw a considerable drop of 19 per cent, in January 2019. Three wheeler sales saw a massive growth of 27 per cent with 6003 units being sold in January 2019, compared to the 4744 units sold during the same month last year.

Commenting on the company's performance, Rajan Wadhera, President, Automotive Sector, M&M said, "The first month of the new calendar year continues to be on an overall growth path. There is buoyancy in rural growth, commodity costs are levelling, fuel prices are coming down and we see improvement in Forex movement, which in turn will drive positive customer sentiment. Having successfully established the Marazzo & Alturas brands and with the upcoming launch of our new compact SUV, the XUV300, we are positive on our outlook".