Mahindra’s exports rise 21% at 4,043 units in May
The Dollar Business Bureau
Mahindra & Mahindra Ltd announced that its exports increased 21% at 4,043 units during May 2016, when compared to 3,337 units in the same month last year. The company’s total sales, including the exports, surged up 11% at 40,656 units in May 2016 against 36,706 units in the same month previous year.
The domestic sales of the leading SUV manufacturer of the country rose 10% at 36,613 units during last month, as against 33,369 units in the corresponding month previous year. The sales of passenger vehicles segment that includes UVs, cars and vans have grown 8% at 19,635 units in May 2016 against 18,135 units in May 2015. The sales of medium and heavy commercial vehicles (MHCVs) have registered a growth of 46% at 501 units in May 2016, over 343 in the same month a year ago.
Pravin Shah, President and Chief Executive (Automotive) of Mahindra & Mahindra Ltd said that the company is excited to achieve a double digit growth during the time of regulatory uncertainties. The prediction of good monsoon this year will certainly result in positive sentiment among the buyers. This would also bring optimism in the overall demand of the automotive industry across all segments, he said.
The company expects to widen its product portfolio to drive the industry growth. The growth in MHCV sales and the number of exports is encouraging the company. The launch of e-Verito will add an innovative product range of electric vehicles of the company.
He hoped that regulatory interventions in the country will soon settle to allow the Indian auto industry to operate in a stable regime which can contribute to the growth of its GDP.