Stock Report

Mahindra Auto sells 32,915 SUVs with a 66% growth in January 2023

Posted On : 2023-02-01 14:42:07( TIMEZONE : IST )

Mahindra Auto sells 32,915 SUVs with a 66% growth in January 2023

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India's leading automotive companies, today announced that its overall auto sales for the month of January 2023 stood at 64,335 vehicles.

In the Utility Vehicles segment, Mahindra sold 32,915 vehicles in January 2023, despite disruptions in supply chain of Crash Sensors and Air Bag ECUs due to availability of semiconductors. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 33,040 vehicles in January 2023.

Exports for the month were at 3,009 vehicles. In the Commercial Vehicles segment, Mahindra sold 21,724 vehicles in January 2023.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., "The successful launches of Thar RWD and our first all-electric SUV, XUV400, have received very encouraging response from our customers in the first month of 2023. Our Utility Vehicles saw a growth of 66% and we saw an overall growth of 37%. We continue to keep a close watch on the dynamic supply chain situation".

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1378.60 as compared to the previous close of Rs. 1331.65. The total number of shares traded during the day was 109114 in over 8477 trades.

The stock hit an intraday high of Rs. 1384.95 and intraday low of 1335.25. The net turnover during the day was Rs. 148590062.00.

Source : Equity Bulls


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