Mahindra Auto Sector sells 35,187 vehicles in December 2020

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 December 2020 stood at 35,187 vehicles, compared to 39,230 in December 2019.

In the Utility Vehicles segment, Mahindra sold 16,050 vehicles in December 2020, compared to 15,225 vehicles in December 2019, registering a growth of 5%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 16,182 vehicles in December 2020, a growth of 3% over same period last year.

According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. "At Mahindra we have witnessed a growth of 5% in Utility Vehicles in the month of December. Our overall sales have been affected due to the continuing supply chain challenges related to the constantly changing global environment, more specifically the supply shortage of micro-processors (semiconductors) used in Electronic Control Unit (ECUs). Demand continues to remain strong even after the festive season and as we get into the new year."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.720.4 as compared to the previous close of Rs. 720.65. The total number of shares traded during the day was 111810 in over 2387 trades.

The stock hit an intraday high of Rs. 725.2 and intraday low of 713.65. The net turnover during the day was Rs. 80478483.

Source : Equity Bulls

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