Auto giant Mahindra & Mahindra Ltd saw a 7 per cent year-on-year growth in passenger vehicle (PV) sales at 19,458 units in November 2021 as compared to 18,212 units sold during the same months last year.
In total (passenger vehicles plus commercial vehicles plus exports), 40,102 vehicles were sold in November 2021. The cars plus vans category in the PV segment reported a major decline of 69 per cent YoY, with just 69 units sold in November.
Mahindra sold 19,384 units of utility vehicles, recording an 8 per cent YoY growth as compared to 17,971 units sold in November 2020.
In the domestic commercial vehicles category, the company sold 17,543 units, recording a decline across all segments on a YoY basis. In the 3-wheelers category, including electric 3Ws, the company sold 2,564 units vs 3,854 sold in November 2020, recording a 33 per cent decline.
On the export front, Mahindra saw a major growth in the month. M&M exported 3,101 units in November 2021 vs 1,636 units in November 2020, thereby recording a 90 per cent growth in exports of vehicles.
“Our growth in SUVs continues with an 8% increase in November. The demand remains strong across our product portfolio of SUVs, Pickup, and Small Commercial Vehicles. Momentum in exports continues with a 90% growth. The issues around semi-conductor related parts continue to remain a challenge for the industry. We are monitoring the situation closely and taking appropriate steps,” said Veejay Nakra, Chief Executive Officer, Automotive Division, M&M.
Mahindra & Mahindra stock is trading at 837.3, which is Rs 1.80 or 0.22 per cent up, as compared to the previous session close of Rs 835.5 on the NSE.
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