Mahindra & Mahindra has reported 8 per cent year-on-year (YoY) sales growth in the utility vehicles segment at 19,384 units as compared to 17,971 units sold in the same month last year. The company sold just 74 units of passenger cars + vans, a drop of 69 per cent. The Passenger Vehicle segment (SUV + Car) registered a growth of 7 per cent in sales at 19,458 units as compared to 18,212 units sold a year ago. Overall, the company registered a growth of 8 per cent in sales at 40,802 units including both passenger vehicles and commercial vehicles.
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Mahindra says that demand remains strong across our product portfolio of SUVs.
According to Vijay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., “Our growth in SUVs continues with a growth of 8 per cent in the month of November. Demand across our product portfolio of SUVs, pickups and small commercial remains strong. Vehicles. Exports continue to grow at 90% pace. Semi-conductor related parts issues continue to be a challenge for the industry. We are closely monitoring the situation and taking appropriate steps.”
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Mahindra is also facing production problem due to semiconductor problem.
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On a year-on-year (YTD) basis in the period March 2021 – November 2021, sales of utility vehicles grew by 51 per cent at 1,31,434 units as compared to 86,959 units sold a year ago. Car + Van segment registered a growth of 12 per cent at 1509 units as compared to 1350 units sold a year ago. Overall, the passenger vehicle segment also witnessed a growth of 51 per cent in sales at 1,32,943 units as compared to 88,309 units sold a year ago.
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