Mahindra Auto Sector sells 28,777 vehicles in February

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 February 2021 stood at 28,777 vehicles, compared to 32,476 in February 2020.

In the Utility Vehicles segment, Mahindra sold 15,380 vehicles in February 2021, compared to 10,675 vehicles in February 2020, registering a growth of 44%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 15,391 vehicles in February 2021, a growth of 41% 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 44% in UVs for the month of February, 2021. Demand continues to remain buoyant for our range of SUVs and Pick-ups and we have a robust order pipeline. However, supply of semiconductors, as we all know, is a global issue and it is likely to continue for another 3 to 4 months. Going forward, we will continue to monitor the situation and closely work with our suppliers to minimise this supply risk."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.804.85 as compared to the previous close of Rs. 859.4. The total number of shares traded during the day was 488064 in over 19767 trades.

The stock hit an intraday high of Rs. 852 and intraday low of 799.1. The net turnover during the day was Rs. 399412921.

Source : Equity Bulls

Keywords