M&M releases sales figures for January; registers 58% growth in the Commercial Vehicles segment

During the month, the overall sales figures grew by 20% YoY and stood at 46,804 vehicles. 

Mahindra & Mahindra Ltd, one of the leading auto companies in India with a leadership position in utility vehicles, announced its auto sales figures for January 2022. 

In the Utility Vehicles segment, the YoY sales declined by 3% to 19848 vehicles as against the sales of 20498 vehicles in the corresponding month last year. The sales of cars and vans declined by 15% YoY to 116 units against 136 units in January 2021.

The overall sales in the passenger segment (UVs + Cars & Vans) went down by 3% YoY to 19964 units from sales of 20634 units in January 2021.

The sales in the commercial vehicles segment went up by 58% YoY and stood at 21,111 units. This growth came on the back of increased sales across all categories of Light Commercial Vehicle Segments comprising <2T, Pickups (2T to 3.5T), >3.5T and the heavy commercial vehicles.

While the shortage of semi-conductor related parts continues to be a sore point, the company fulfilled its commitment of billing the first 14000 units of XUV700s by January 2022. The company also registered nearly 1,00,000 bookings since the launch of this model.

Established in 1945, Mahindra & Mahindra started as a steel trading company. The company eventually expanded its business operations and today it is one of the largest vehicle manufacturers by production in India. At present, the company’s automotive segment comprises sales of automobiles, spare parts and related services, whereas its farm equipment segment comprises sales of tractors, spare parts and related services.

At the closing bell, the share price of Mahindra & Mahindra Ltd was trading at Rs 870.20, a decline of 1.67 per cent from the previous day’s closing price of Rs 885 on BSE.