Mahindra's auto exports increase 41% in June
The Dollar Business Bureau
Mahindra and Mahindra Ltd (M&M) has exported 4020 vehicles in June 2016 registering a healthy growth of 41% against the auto exports of 2852 units in the same month last year. The company has seen 25% growth in exports at 10569 units in the first quarter of this financial year when compared to 8449 vehicles exported during the corresponding period previous fiscal.
The SUV manufacturer has sold 39011 vehicles in June 2016 against 36134 units in the same month previous year, representing 8% growth in overall sales including exports. During the first quarter of this fiscal, the company’s total sales rose 11% at 121530 units when compared to 109567 units sold in the corresponding period last financial year.
Pravin Shah, President & Chief Executive (Automotive), M&M said that despite several challenges, the company has achieved a double digit growth in the first quarter of this financial year. The country is currently witnessing a good monsoon, which would surely enhance the rural prosperity. With this, the company is expecting to see improved sentiments and a buoyancy in auto sector demand, he said.
Speaking about the ban on sales of diesel cars in the National Capital Region (NCR), he said that the Supreme Court will take cognizance of the facts when taking a decision on the ban on diesel vehicles in the NCR. He reiterated that the automotive industry plays an important role in the country’s industrial growth.
Pollution is increasing at an alarming level in the NCR, as a result the Supreme Court has banned the registration of diesel vehicles 2000 cc and above from last year-end, that continued to the first half of 2016. Due to the ban, all the auto majors in NCR have been facing severe losses. The National Green Tribunal has also planned to extend the ban to other cities in India.
Source: Mahindra & Mahindra