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18 January, 2021 06:43 IST
Mahindra Auto Sector sells 42,731 vehicles in November
Source: IRIS | 01 Dec, 2020, 02.20PM
Rating: NAN / 5 stars.
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 Mahindra & Mahindra (M&M), a part of the USD 19.4 billion Mahindra Group, on Tuesday announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of November 2020 stood at 42,731 vehicles, compared to 41,235 in November 2019, a growth of 4%.

In the Utility Vehicles segment, Mahindra sold 17,971 vehicles in November 2020, compared to 14,161 vehicles in November 2019, registering a growth of 27%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,212 vehicles in November 2020, a growth of 24% over same period last year.

Commenting on the passenger vehicles performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M said, "At Mahindra we are happy to achieve strong double digit growth in SUVs during the month of November, aided by a robust festive demand for all our products. Given strong rural growth and signs of improvement in economic activities, we are hopeful to see this positive momentum continue post the festive season."

Elaborating further on pick-ups and commercial vehicles performance, Nakra said, "We have witnessed double digit growth in Pick-ups. Our Small Commercial Vehicle brands Bolero Pik Up,  Supro and Jeeto continue to see strong demand in both rural and urban markets."

 Shares of the company gained Rs 8, or 1.11%, to trade at  Rs 728.05.  The total volume of shares traded  was  89,563 at the BSE (1.12 p.m., Tuesday).

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