Mahindra's Auto Sector sells 19,358 vehicles in June 2020

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced its auto sales performance for the month of June 2020.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 8,075 vehicles in June 2020, compared to 18,826 vehicles in June 2019.

In the Commercial Vehicles segment, the company sold 10,417 vehicles in June 2020, as against 16,394 vehicles in June 2019.

Exports for the month of June 2020 were at 853 vehicles.

The company's overall automotive sales (Domestic + Exports) stood at 19,358 vehicles in June 2020, compared to 42,547 vehicles during June 2019.

Commenting on the performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, "The automotive industry has started to see recovery both in the passenger and small commercial vehicle segments. This has been led primarily by rising rural demand and movement of essential goods across the country. Our key brands such as Bolero, Scorpio and Pik-Ups, are all seeing good traction. Managing the supply chain will be our key focus area as we ramp up production to meet this increased demand."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.510.7 as compared to the previous close of Rs. 507.5. The total number of shares traded during the day was 217539 in over 4268 trades.

The stock hit an intraday high of Rs. 515.3 and intraday low of 507.3. The net turnover during the day was Rs. 111148530.

Source : Equity Bulls

Keywords