Mahindra Auto Sector sells 39,149 vehicles in January Registers 5% growth in Utility Vehicles

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of January 2021 stood at 39,149 vehicles, compared to 52,546 in January 2020.

In the Utility Vehicles segment, Mahindra sold 20,498 vehicles in January 2021, compared to 19,455 vehicles in January 2020, registering a growth of 5%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 20,634 vehicles in January 2021, a growth of 4% over same period last year.

According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., At Mahindra we have witnessed a growth of 5% in Utility Vehicles for the month of January. We have also seen strong bookings fueled by continued demand. Supply shortage of micro-processor semiconductors continues to be a serious challenge for the Auto Industry. Going forward we are working with our supplier partners to gear up our supply chain and meet the market demand."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.749.9 as compared to the previous close of Rs. 765.75. The total number of shares traded during the day was 260004 in over 8949 trades.

The stock hit an intraday high of Rs. 799.85 and intraday low of 746.2. The net turnover during the day was Rs. 201831907.

Source : Equity Bulls

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