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Mahindra's Auto Sector sells 45,101 vehicles during November 2018, a growth of 17%

Posted On: 2018-12-01 12:02:45

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for November 2018 which stood at 45,101 vehicles, compared to 38,570 vehicles during November 2017, a growth of 17%.

The company's domestic sales touched 41,564 vehicles during November 2018, as against 36,039 vehicles in November 2017, a growth of 15%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 16,188 vehicles in November 2018, as against 16,030 vehicles in November 2017.

In the Commercial Vehicles segment, the company sold 19,673 vehicles in November 2018, registering a 26% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 637 vehicles for the month. Exports for November 2018 stood at 3,537 vehicles, a growth of 40%.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "We have registered a double-digit growth in our overall sales. However, adverse macro-economic conditions have impacted the growth forecast for the automotive industry in general. Going forward, we hope that decrease in fuel prices and improving liquidity will drive demand for passenger vehicles. At Mahindra, we remain upbeat due to our new product launches of Marazzo, Alturas G4 and the upcoming launch of our new SUV codenamed S201."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.790.2 as compared to the previous close of Rs. 773.1. The total number of shares traded during the day was 347291 in over 3833 trades.

The stock hit an intraday high of Rs. 796.45 and intraday low of 776. The net turnover during the day was Rs. 273675693.


Source: Equity Bulls

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