Mumbai, Nov 1 Mahindra & Mahindra Ltd on Saturday announced that its overall auto sales for the month of October stood at 120,142 vehicles, a growth of 26 per cent including exports, as GST rate cuts brought cheers for customers.
In the Utility Vehicles segment, Mahindra sold 71,624 vehicles in the domestic market, a growth of 31 per cent and overall, 73890 vehicles, including exports.
The domestic sales for commercial vehicles stood at 31,741, a growth of 14 per cent, the company said in a statement.
“In October, we achieved SUV sales of 71,624 units, a growth of 31 per cent, which is the highest SUV sales we have clocked ever in a month,” said Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd.
“The total vehicle sales stand at 120,142 units, a 26 per cent growth compared to the same month last year. October also saw the launch of the new editions of Thar, Bolero and Bolero Neo,” Gollagunta mentioned.
Last month, the company dismissed reports claiming that it is considering a demerger of its automotive and tractor businesses. In a filing to stock exchanges, the automaker clarified that there are "no plans for a demerger of the Auto and Tractor businesses", adding that it continues to derive "much greater value from synergies by keeping these businesses within the M&M entity".
In September, the automaker had recorded overall auto sales of 1,00,298 vehicles -- a 16 per cent growth compared to the same month last year. The company also reported a record surge in customer demand during the Navratri festive season, with SUV retails rising by more than 60 per cent and commercial vehicle retails growing by over 70 per cent in the first nine days of the festival.
In the utility vehicles segment, Mahindra sold 56,233 units in the domestic market in September, a 10 per cent increase from last year, while total UV sales including exports reached 58,714 units. The company’s domestic commercial vehicle sales stood at 26,728 units -- reflecting 18 per cent growth.
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