New Delhi [India], June 1 : Mahindra Auto reported growth in passenger car sales in May, particularly in its SUV segment.
The company said it sold 43,218 SUVs domestically during the month, which denotes a 31 per cent increase compared to May 2023. The surge in SUV sales highlights the strong demand for the SUV segment in the passenger vehicle category.
The overall sale of passenger vehicles by the Mahindra stood at 71,682 vehicles in May 2024, reflecting a 17 per cent year-over-year growth.
The company said there has been good response to the XUV3XO model for which bookings opened on May 15.
"We sold a total of 43,218 SUVs in May, a growth of 31 per cent and 71,682 total vehicles, a 17 per cent growth over last year. As we opened bookings on May 15, we were delighted to receive an overwhelming response for the XUV3XO" said Veejay Nakra, President, Automotive Division, M&M Ltd.
In addition to passenger vehicles, the company's farming equipment sector also showed positive results. The domestic tractor sales of the company in India reached 35,237 units in May 2024, marking a 6 per cent growth compared to the previous year, a release said.
The increase in tractor sales highlights a favourable trend in the agricultural machinery market.
"We have sold 35,237 tractors in the domestic market during May'24, a growth of 6 per cent over last year. Coupled with timely arrival of southwest monsoon in Kerala and northeast states and forecast of an above normal monsoon has improved the on-ground sentiments of the farmers" said Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd.
"Land preparation activities for Kharif crops are expected to begin on time, which is likely to boost tractor demand in coming months. In the exports market, on the back of OJA (tractor model) exports to the USA, we have sold 1872 tractors, a growth of 85% over last year" he added.
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