Indian automaker Mahindra & Mahindra has sold a total of 39,200 units in December 2017 reporting a growth of 4 percent. The company had sold 36,464 units in December 2016. It has been a strong year for Mahindra’s commercial vehicles as the sales grew by 24 percent. The company sold a total of 17,542 units of CVs last month as against 14,154 units in December 2016.In the medium and Heavy Commercial Vehicles segment, M&M sold 1,193 vehicles for the month, registering massive growth of 151%. Exports for December 2017 stood at 2,221 vehicles, a growth of 8%. Passenger vehicles sales dropped by 7 percent as a company managed to sell 15,543 units. The EESL tender saw Mahindra Electric starting to supply Mahindra eVerito to a government that helped the sales of cars to go up to 1029 units.
Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M said,“We are happy to have ended December 2017 with a growth of 8%. Our commercial vehicles growth for December has been encouraging at 24% and we are particularly buoyed by our ongoing strong performance in the MHCV segment which indicates a vibrancy in the economy. Global automotive trends such as electric vehicles and shared mobility will be key indicators for 2018 and at Mahindra, we would continue to be a key and innovative player”.
The year 2017 has been a consolidation year for Mahindra and its now in 2018 when the company will execute many of its planned business strategies which include new products. The company has line up new SUV launches and will also be launching the electric version of the Mahindra KUV 100 in 2018.
Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.