Mahindra Auto Sector sells 40,403 vehicles in March 2021

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 March 2021 stood at 40,403 vehicles, compared to 6,679 in March 2020.

In the Utility Vehicles segment, Mahindra sold 16,643 vehicles in March 2021, compared to 3,111 vehicles in March 2020. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 16,700 vehicles in March 2021. The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the onset of pandemic during mid-March last year.

According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., "At Mahindra we are witnessing very good momentum in demand and have a strong pipeline of bookings across our SUV range of Bolero, Scorpio, XUV300, All-New Thar and also the Bolero Pik-up. Infact Bolero volumes for March has been the highest in this financial year and despite supply constraints we have been able to ramp up production of Bolero Pik-up significantly during the month. We expect supply challenges to remain for the next two to three months and then ease out gradually."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.795.1 as compared to the previous close of Rs. 795. The total number of shares traded during the day was 125200 in over 2688 trades.

The stock hit an intraday high of Rs. 805.3 and intraday low of 790.9. The net turnover during the day was Rs. 99954655.

Source : Equity Bulls

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