Mahindra & Mahindra Ltd.’s passenger vehicle sales rose 56% to 30,392 units on a low base of last year. The commercial vehicle sales also witnessed robust growth across segments.
The company’s total tractor sales rose 10% to 30,528 units in the month.
Sales Highlights (YoY):
Medium duty light commercial vehicle sales jumped 34% to 16,193 units.
Three-wheeler sales doubled to 5,198 units.
Exports rose 1% to 3,122 units.
Domestic tractor sales rose 12% to 29,180 units.
Tractor exports fell 15% to 1,348 units.
The company said the supply chain challenges continue to be dynamic and it’s keeping a close watch on the situation.
“Demand continued to remain strong in the post festival period on account of brisk sowing of rabi crops, fuelled by high moisture content in the soil and healthy reservoir levels and is expected to beat last year’s record sowing of 70 million hectares,” Hemant Sikka, president of Farm Equipment Sector at M&M, said in a statement. “Procurement of Kharif crop has progressed well, bringing liquidity in the hands of farmers and this augurs very well for tractor industry’s growth.”