Mahindra August Auto Sales Rises 19% YoY Amid Booming SUV Segment

Automobile major Mahindra and Mahindra, on Friday, reported that its overall auto sales for August stood at 70,350 vehicles, a surge of 19 per cent year-on-year, including exports, according to a statement by the company. The company had reported total sales at 59,000 units in the same month last year. 

In the Utility Vehicles segment, the Mumbai-headquartered company claims to have sold its highest-ever SUVs in the domestic market at 37,270 units in August, and overall, 38,164 vehicles, including exports. The SUV sales were up 26 per cent on a year-on-year basis. The domestic sales for Commercial Vehicles stood at 23,613 units, the statement added.

“We are excited to witness another record month, as we clocked our highest-ever SUV domestic sales of 37,270 in a month with a growth of 26 per cent. We also registered an overall growth of 19 per cent for the month of August. While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semiconductors and select parts, for sustained and smooth scaleup,” said Veejay Nakra, President, Automotive Division, M&M.

M&M further reported that it sold 21,676 units of tractors in August.

The stocks of M&M was up nearly 1 per cent at Rs 1,591.50  apiece, at 11:20 am.

Founded in 1945, the Mahindra Group employs 2.60 lakh employees in over 100 countries. It offers farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It also has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.