Mahindra & Mahindra's December passenger vehicle sales rise 61% to 28,445 units

Mahindra & Mahindra on Monday reported 61 per cent increase in passenger vehicle sales at 28,445 units for December 2022.

The company had sold 17,722 units in the same month in 2021, M&M said in a statement.

Utility vehicle sales grew 62 per cent to 28,333 units last month as against 17,469 units in the year-ago period, it added.

"Continuing interest from our customers have led to strong demand across our portfolio in December 2022," M&M President, Automotive Division Veejay Nakra said.

On the outlook, he said,"Due to continuing international disruptions and increasing coronavirus cases, we are keeping a close watch on the dynamic supply chain situation."

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In the farm equipment segment, M&M said its total tractor sales grew 27 per cent at 23,243 units last month as compared to 18,269 units in December 2021.

Domestic tractor sales grew 30 per cent to 21,640 units as against 16,687 units in the same month of previous year. Exports were at 1,603 units last month as compared to 1,582 units in December 2021, a growth of 1 per cent.

"On the back of strong rabi sowing, good kharif procurement and likely exports of wheat, the sentiments continue to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements," M&M President - Farm Equipment Sector Hemant Sikka said.

Rabi crop sowing has progressed very well and is higher than last year's acreage and also higher than the average of the last five years, he said adding wheat and oil seeds are expected to be bumper harvest.

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