Key highlights:

  • Mahindra's total sales in May grows by 3%
  • Domestic sales registers 11% growth
  • The biggest driver of growth for Mahindra came from its commercial vehicles segment

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Mahindra & Mahindra on Thursday reported a 3% growth in its total sales in May 2017 which stood at 41,895 vehicles compared to 40,656 vehicles during May 2016.

The company’s domestic sales stood at 40,602 vehicles during May 2017, as against 36,613 vehicles during May 2016, a growth of 11%.

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The passenger vehicles segment (which includes utility vehicles, cars and vans) registering a growth of 3% as it sold 20,290 vehicles in May 2017 as against 19,635 vehicles during May 2016. While UV sales grew by 4%, its cars and vans sales decline by 3% during May 2017.

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In May 2017, the Medium and Heavy Commercial Vehicles (MHCV) segment sold 438 vehicles, a decline of 13% as against the same month last year.

It's three-wheeler sales grew by 5% in May 2017 as sales stood at 4,057 units during the month.

Mahindra's exports for May 2017 stood at 1,293 vehicles, a decline of 68%.

Rajan Wadhera, President, Automotive Sector, M&M said, “We are happy with our overall performance in May 2017. Given the favourable monsoon projections and the focused investment in the rural sector, we have a robust outlook for future which is expected to spur demand. The implementation of GST will be a significant game changer and we hope it benefits the auto industry. At Mahindra we look forward to a growth momentum on the back of our existing product portfolio as well as the upcoming new products.”