Indian automaker and leading UV manufacturer Mahindra and Mahindra have grown in double digits in FY 2017-18 as the company's overall domestic sales including all vehicles stood at 5,20,933 units at a growth rate of 11 per cent. The company had sold a total of 4,70,234 units in FY 2016-17. This is after five years, Mahindra has bounced back to achieve a sales milestone of over 5 lakh units.
Mahindra's passenger vehicles segment dominated by its SUVs like Mahindra Scorpio, Mahindra XUV500, Mahindra TUV300 and Mahindra KUV100 helped the company to report a 5 per cent growth by selling over 2.46 lakh units as against 2.36 lakh units sold last financial year. While overall Maruti Suzuki had overtaken Mahindra in UV sales, the company bounced back to retain the number 1 position in UV space during Jan-March 2018. Mahindra sold a total of 67,805 units as against Maruti Suzuki's 63,517 units sold during the same period.
Commenting on the sales performance, Rajan Wadhera, President, Automotive Sector, M&M said, “We are extremely happy to have achieved a sales milestone of 5 lac plus units during the last financial year, with an overall growth of 8%. This is a testimony to the good performance of both passenger vehicles as well as commercial vehicles. We are particularly buoyed by the growth of our truck business, which has outperformed the industry. With three of our critical new automotive launches lined up in FY19, we are confident of increasing our market share in the utility vehicle space”.
The biggest growth driver for Mahindra has been in the CV space. The company sold a total of 2,16,803 units of its commercial vehicles and both LCV and M&HCV space have reported growth. Overall, sales of commercial vehicles grew by 20%, Mahindra had sold 1,80,948 units last year. Mahindra's exports declined by 24% as the company exported 28,221 units as against 37,364 units exported last year.
Overall Mahindra Auto Sector sales stood at 5,49,154 vehicles (including exports) compared to 5,07,598 vehicles during FY2017, registering a growth of 8%.