India's leading SUV manufacturer, Mahindra & Mahindra Ltd. announced its auto sales performance for the month of October 2016. The company sold 52,008 vehicles for the month compared to 51,383 units for the same period last year.
The passenger vehicle segment which includes utility vehicles, cars and vans contributed with sales of 24,737 vehicles in October 2016 compared to 24,060 units for the month of October 2015. This represented a growth of 3 percent.
As for the domestic sales, the company sold 48,729 units during October 2016 against sales of 48,815 units in the same month last year.
Mahindra witnessed a sharp increase in exports with 3,279 units being shipped in October 2016 registering growth of 28 percent when compared to previous period.
Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. commenting on the sales said that the festive season brought about some cheer for the automotive industry with improved sentiments.
He added that this was backed by a near normal monsoon, rural surge in demand and some new vehicle launches. Vehicles such as Bolero, Scorpio, TUV300, and the pickups have performed well.
He further said that they were happy to achieve 28 percent growth in their exports. They have expanded their electric vehicle portfolio over the last one month by adding the eSupro range and the e2oPlus.
He also said that they have a cumulative growth of 12 percent in utility vehicles, 19 percent on export, and 9 percent overall growth and hope to see the growth momentum continue for the remainder of the year.