Auto sales of Mahindra & Mahindra Ltd (M&M), India’s leading SUV manufacturer, stood at 494,098 units in financial year 2015-16, up 6% from 464,764 units in 2014-15.
In the last month (March) of 2015-16, the domestic auto major sold 52,718 units, up 17% as against 45,124 units sold in March 2015.
The medium and heavy commercial vehicles (M&HCV) segment registered a sharp rise of 86% at 879 units in March 2016 compared to 472 units a year ago.
The passenger vehicles segment (which includes UVs, cars and vans) increased 21% at 26,885 units in March 2016 compared to 22,183 units in March 2015.
The company’s domestic sales stood at 48,967 units in the last month of 2015-16, up 19% from 41,105 units sold in the last month of 2014-15. Exports decreased 7% during the same period.
Commenting on the sales, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd, said, “At Mahindra we are happy to have achieved an overall growth of 17% during March 2016 and 6% for FY2016, despite various challenges.” He added, “The last financial year was significant for us considering the number of new product launches, which were well received by the customers, leading to a positive growth in domestic and overseas markets. Going forward, we hope to see good opportunity with our wide product portfolio. Further, the likely softening of interest rates in the upcoming RBI monetary policy, will help the automotive industry maintain its growth momentum in FY2017.”