Mahindra Auto Sector sells 42,731 vehicles in November

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of November 2020 stood at 42,731 vehicles, compared to 41,235 in November 2019, a growth of 4%.

In the Utility Vehicles segment, Mahindra sold 17,971 vehicles in November 2020, compared to 14,161 vehicles in November 2019, registering a growth of 27%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,212 vehicles in November 2020, a growth of 24% over same period last year.

Commenting on the Passenger Vehicles performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, "At Mahindra we are happy to achieve strong double digit growth in SUVs during the month of November, aided by a robust festive demand for all our products. Given strong rural growth and signs of improvement in economic activities, we are hopeful to see this positive momentum continue post the festive season."

Elaborating further on Pick-Ups and Commercial Vehicles performance, Mr. Nakra said, "We have witnessed double digit growth in Pick-ups. Our Small Commercial Vehicle brands Bolero Pik Up, Supro and Jeeto continue to see strong demand in both rural and urban markets."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.720.05 as compared to the previous close of Rs. 729. The total number of shares traded during the day was 211483 in over 5298 trades.

The stock hit an intraday high of Rs. 742.4 and intraday low of 712. The net turnover during the day was Rs. 154218810.

Source : Equity Bulls

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