Mahindra Sells 8004 Passenger Vehicles; Registers 56% Degrowth Month-On-Month
Mahindra and Mahindra today released the sales numbers for the month of May 2021. The company’s passenger vehicle sales in the domestic market stood at 8004 units, a good 107 per cent Year-on-Year (YoY) growth compared to 3867 vehicles sold in May 2020. Compared to 18285 units sold in April 2021, Mahindra saw massive degrowth of 56.2 per cent in Month-on-Month (M-o-M) sales. This is majorly due to challenges caused by the second wave of the COVID-19 pandemic, which resulted in lockdown-like restriction in several states, impacting both production and retail sales.
The Indian automaker’s overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of May 2021 stood at 17,447 units compared to 36437 vehicles sold in April 2021, recording a Month-on-Month (MoM) decline of over 52 per cent. Mahindra’s Utility Vehicle (UV) segment accounted for 7748 units in May 2021, registering a 107 per cent growth compared to the 3745 vehicles sold during the same month last year.
According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., “We are seeing a strong growth momentum for our entire product portfolio. The Thar is clocking robust bookings, despite extended waiting periods. XUV300 has been a tremendous success and continues to see strong demand. Our power brands (Scorpio and Bolero) continue to do well. With the cases coming down and gradual opening up of markets, we foresee strong demand rebound. We are working closely with our supplier partners to manage supply chain issues and meet the market demand.”
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As for the commercial vehicles segment, Mahindra’s total CV sales for the last month stood at 7,508 units, including its electric three-wheelers, witnessing a 30 per cent growth compared to 5,209 units sold during the same month last year. Sales of light commercial vehicles below 2-tonne saw a massive growth of 234 per cent at, 1828 units, while sales of LCVs between 2-tonne and 3.5-tonne increased by 14 per cent to 5220 unit. LCVs above 3.5-tonne and Medium-Heavy Commercial Vehicles (MHCV) collectively accounted for 188 units, witnessing a Year-on-Year 284 per cent growth. Whereas the company’s 3-wheeler segment witnessed a YoY growth of over 597 per cent at 272 units. In terms of exports, Mahindra sold 1,935 units last month as compared to 484 units witnessing a growth of 300 per cent. However, compared to the 2005 units Mahindra managed to export in April 2021, the company recorded a marginal MoM de-growth.