Mahindra Auto sells 58,801 vehicles with an 8% growth, SUVs registers 10% growth in February 2023

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India's leading automotive companies, today announced that its overall auto sales for the month of February 2023 stood at 58,801 vehicles.

In the Utility Vehicles segment, Mahindra sold 30,221 vehicles in February 2023, despite disruptions in supply chain of Crash Sensors and Air Bag ECUs due to unavailability of semi-conductors. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 30,358 vehicles in February 2023.

Exports for the month were at 2,250 vehicles. In the Commercial Vehicles segment, Mahindra sold 20,843 vehicles in February 2023.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., "We continue our trend of selling more than 30,000 SUVs per month and February saw a growth of 10% in the segment and an overall growth of 8%. Our recent launches (Thar RWD and XUV400) have received a very positive response and we see good demand across our portfolio as well. We are monitoring and taking appropriate steps on the supply chain scenario of semiconductors, which continue to be dynamic".

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1273.65 as compared to the previous close of Rs. 1269.80. The total number of shares traded during the day was 59456 in over 4442 trades.

The stock hit an intraday high of Rs. 1305.50 and intraday low of 1269.85. The net turnover during the day was Rs. 76633238.00.

Source : Equity Bulls

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