Mahindra Auto sells 34,694 SUVs with a 57% growth, and 62,294 vehicles across portfolio with a 36% growth in April 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 April 2023 stood at 62,294 vehicles.

In the Utility Vehicles segment, Mahindra sold 34,694 vehicles in April 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 34,698 vehicles in April 2023.

Exports for the month were at 1,813 vehicles. In the Commercial Vehicles segment, Mahindra sold 20,231 vehicles in April 2023.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., "After a recordbreaking year in F23, we continued our growth trend in SUVs by selling 34,694 units, registering a growth of 57% in April. Our Commercial vehicles registered growth of 16% during this month and we are optimistic in further consolidating our position in the <3.5-ton LCV segment with our recently launched All New range of Bolero Maxx Pik-Up, which promises to be a game changer. We continue to keep a close watch on the dynamic supply chain situation, which is an industry phenomenon".

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1226.60 as compared to the previous close of Rs. 1224.05. The total number of shares traded during the day was 72287 in over 4447 trades.

The stock hit an intraday high of Rs. 1228.50 and intraday low of 1211.90. The net turnover during the day was Rs. 88322590.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 SalesVolume AutoSales April2023