Mahindra & Mahindra Ltd. (M&M Ltd.), today announced that its auto sales for the month of March 2023 stood at 35,976 vehicles, its highest ever, with a growth of 31%, via an exchange filing.
The company also clocked the highest ever annual sales of its SUVs at 356,961 units, with a growth of 60%. In the Passenger Vehicle segment (which includes UVs, Cars and Vans), the company sold 35,997 units (growth of 30%) in March 2023 and recorded an annual sale of 359,253 vehicles (growth of 59%).
The Commercial Vehicle segment recorded a sale of 22,282 vehicles in March 2023 (growth of 12%) and annual sale of 248,576 vehicles (growth of 40%). The LCV (2 - 3.5T) segment recorded its highest ever annual sales of 198,121 units in FY23.
Mahindra Truck and Bus Division (LCV > 3.5T + MHCV), also registered good performance with 1,469 units in March 2023 (growth of 77%) and annual sale of 10,036 units (growth of 56%) Exports for the month were at 2,115 vehicles, and the company sold 5,697 units of 3- wheelers in March 2023.
According to Veejay Nakra, President, Automotive Division, M&M Ltd., "We are delighted to close the year with a growth of 50% for the Auto Sector on annual basis and the highest ever numbers, in almost all segments of the business."
"Our SUV business recorded all-time high numbers, with a growth of 31% in March 2023, while it recorded a 60% overall growth in F23, on the back of good demand across the portfolio. The Pik-up (LCV 2-3.5T) segment recorded highest ever annual volume with a strong 43% growth, consolidating its leadership position. We would like to thank our associates, dealers, partners, suppliers, and customers, who have made this a remarkable year".
