Mahindra Auto sells 32,585 SUVs with a 22% growth, and overall, 62,429 vehicles with a 15% growth in June 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 June 2023 stood at 62,429 vehicles.

In the Utility Vehicles segment, Mahindra sold 32,585 vehicles in the domestic market and overall, 33,986 vehicles, including exports. The sales volume for SUVs 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 this month as well.

The domestic sales for Small Commercial Vehicles (LCV < 3.5T) stood at 19,798 vehicles.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., "With strong demand for the SUV Portfolio, we have continued our growth trend with domestic sale of 32,585 units and 22% growth in June. The XUV700 reached an important milestone as it launched in Australia with a high decibel launch amidst great enthusiasm from customers as well as our partners. We continue to deliver a healthy YoY growth in HCVs and 3- Wheelers segments as well. The SUVs volumes were restricted by a short-term disruption in engine-related parts at the supplier end. The constraints on semiconductor related parts like Air Bag ECU continued during the month too."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1453.75 as compared to the previous close of Rs. 1396.00. The total number of shares traded during the day was 243109 in over 17080 trades.

The stock hit an intraday high of Rs. 1461.00 and intraday low of 1400.10. The net turnover during the day was Rs. 350654564.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 Cars UtilityVehicles AutoSales SalesVolume June2023