Mahindra Auto sells 32,883 SUVs with a 23% growth, and overall, 61,415 vehicles with a 14% growth in May 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 May 2023 stood at 61,415 vehicles.

In the Utility Vehicles segment, Mahindra sold 32,883 vehicles in the domestic market and overall, 33,931 vehicles, including exports. The domestic sales for Small Commercial Vehicles (LCV < 3.5T) stood at 19,053 vehicles. The sales volume for both SUVs and PikUps were restricted by a short-term disruption in engine-related parts at the supplier end. The semiconductor supply constraints on specific parts like Air Bag ECU also continued in this month.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., "We continue our growth trend, backed by strong demand in SUVs. We sold a total of 33,931 units, translating into a domestic growth of 23% in May. We have delivered a healthy YoY growth in 3-Wheelers and export segments as well. The sales volume for both SUVs and Pik-Ups were restricted by a short-term disruption in engine-related parts at the supplier end. The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1328.20 as compared to the previous close of Rs. 1329.45. The total number of shares traded during the day was 38543 in over 2717 trades.

The stock hit an intraday high of Rs. 1338.95 and intraday low of 1319.55. The net turnover during the day was Rs. 51257073.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 AutoSales SalesVolume May2023