Mahindra & Mahindra reports 70% jump in CV sales in January

Mahindra & Mahindra reported a 32% jump in its auto sales January 2018 to 52,048 vehicles, boosted by strong sales of commercial vehicles.

The Passenger Vehicles segment, which includes SUVs, Cars and Vans, sold 23,686 vehicles in January 2018, as against 20,169 vehicles during January 2017, registering a growth of 17%.

In the Medium and Heavy Commercial Vehicles segment, M&M sold 1,049 vehicles for the month, registering a growth of 70%.

The company’s domestic sales stood at 49,432 vehicles during January 2018, as against 37,115 vehicles during January 2017, registering a growth of 33%.

“The growth in the MHCV segment lends credence to the positive momentum in the economy, which can be seen even in the growth numbers of our SCV portfolio,” said Rajan Wadhera, President, Automotive Sector.

“We believe this momentum will continue in our Q4FY2018 numbers.”

Exports for January 2018 stood at 2,616 vehicles, a growth of 15%.

“We are happy to have begun the calendar year with an overall healthy growth of 32%,” Wadhera added. “We have seen a good growth across our portfolio of products both Personal & Commercial.”