Mahindra Registers 17% Growth In November 2018
Mahindra and Mahindra today released its monthly sales numbers for November 2018, and the company has registered a total growth of 17 per cent, selling 45,101 vehicles last month, compared to 38,570 sold in November 2017. The companys passenger vehicle business saw a marginal hike of 1 per cent with 16,188 units, against the 16,030 units sold during the same month last year. The companys total domestic sales saw a growth of 15 per cent, while exports shot up by 40 per cent with 3,537 units, compared to the 2,531 units exported in November 2017.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, Mahindra said, "We have registered a double-digit growth in our overall sales. However, adverse macroeconomic conditions have impacted the growth forecast for the automotive industry in general. Going forward, we hope that decrease in fuel prices and improving liquidity will drive demand for passenger vehicles. At Mahindra, we remain upbeat due to our new product launches of Marazzo, Alturas G4 and the upcoming launch of our new SUV codenamed S201."
On the other hand, the companys commercial vehicle sales touched 19,673 units, registering a massive growth of 26 per cent. During the same month last year, the company had sold 15,554 commercial vehicles in India. In the Medium and Heavy Commercial Vehicles segment, M&M sold 637 vehicles for the month. Exports for November 2018 stood at 3,537 vehicles, a growth of 40 per cent.