Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced its auto sales numbers which stood at 51383 units during October 2015 as against 42780 units during October 2014, representing a growth of 20%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 24060 units in October 2015 as against 20255 units during October 2014, registering a growth of 19%. The company’s domestic sales stood at 48815 units during October 2015 as against 40278 units during October 2014, a growth of 21%. In October 2015, the Medium and Heavy Commercial Vehicles segment sold 581 units, registering a growth of 169%.
Exports for October 2015 stood at 2568 units, representing a growth of 3% for October 2015 and a growth of 32% for YTD October 2015.
Speaking on the auto sales performance for October 2015, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, “The advent of the festive season has provided the much needed fillip for the auto industry especially on the back of the new launches of most manufacturers which has received an encouraging response. With the drop in interest rates and the fuel prices remaining benign, we expect the industry to maintain a good growth momentum going forward. At Mahindra we are happy with our performance during October 2015, which has witnessed a positive growth of 20% backed by excellent response garnered from the recently launched TUV300 as well as other brands such as XUV500, Scorpio, Bolero and pickups. We are quite hopeful of this positive growth momentum continuing for the rest of the year.”