M&M's domestic car sales drop; PV grows by just 3%

Mahindra & Mahindra (M&M) on Tuesday said that its passenger vehicle  (PV) segment sold 24, 737 units in October 2016 as against 24, 060 units in the same month of last year registering a growth of mere 3%. 

It said, "The company's domestic sales stood at 48,729 vehicles during October 2016, as against 48,815 vehicles during October 2015." The company said that its tractor sales during the month rose to 52,008 units as against 51,383 units last year. Commercial vehicle sales dropped 4%, at 18,059 units whereas medium to heavy commercial vehicles saw a 19% drop from 581 units in October of last year. 

Exports rose 28%, at 3,279 units. 

Shares of the company rose 0.49%, at Rs 1,329 per share on BSE Sensex at 933 hours.