Mahindra’s passenger vehicle segment witness a growth of 20% in July 2016
MUMBAI, 1st AUGUST 2016: Mahindra & Mahindra Ltd. (M&M Ltd.) announced its auto sales performance for July 2016 which stood at 39,458 vehicles compared to 34,652 vehicles during July 2015, a growth of 14%.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 17,356 vehicles in July 2016 as against 14,456 vehicles during July 2015, a growth of 20%. The company’s domestic sales stood at 35,305 vehicles during July 2016, as against 31,087 vehicles during July 2015, a growth of 14%. In July 2016, the Medium and Heavy Commercial Vehicles segment sold 382 vehicles, registering a growth of 22%.
Exports for July 2016 stood at 4,153 vehicles, a growth of 16%.
Commenting on the auto sales performance for July 2016, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, “We are happy to have achieved a growth of 14% during July 2016 in the midst of various regulatory challenges. The advent of a good monsoon so far, has brought in positive sentiment for the economy and that is somewhat reflected in our performance. At Mahindra our growth is being driven by the various product launches of the last financial year, which have been in sync with customers’ requirements. With a strong performance in our HCV business as well as our exports, we are hopeful of a positive outlook during the rest of the financial year.”