Mahindra's commercial vehicle production dips by 31%

Mahindra & Mahindra Ltd (M&M) reported the sale of 15,077 commercial vehicles in October 2021, compared to 20,598 in October 2020. The company revealed the production, sales and export figures for October 2021 on Thursday. 

The exports of commercial vehicles increased by 88 per cent from 1,153 units in October 2020 to 2,172 units in October 2021. 

The production of commercial vehicles has decreased by 31 per cent to 14,969 units in October 2021 from 21,763 in October 2020, a consequence of the global chip shortage and rising input costs. 

Bolero model recorded sales of 6,375 units, highest in all commercial vehicles categories, followed by UV2 Scorpio at 3,304 and XUV700 at 3,244. 

UVC KUV100 Petrol recorded the highest exports at 504 units.
 
UV2 Scorpio model showed increasing popularity as its exports increased from 100 in October 2020 to 233 in October 2021.

M&M, chaired by billionaire Anand Mahindra, said in a statement that with better availability of semiconductors, it expects to maintain volume growth momentum from the third quarter onwards.