M&M records a 6 per cent growth in domestic market: Exports up by 22 per cent for January 2019

The company plans on boosting the sales number further with the new upcoming launches such as the XUV 300 compact SUV.

By: | Updated: February 1, 2019 4:37 PM

Mahindra and Mahindra has recently announced the sales figures for the month of January 2019 recording a 7 per cent overall growth in domestic as well as export sales. The Indian auto major sold overall 55,722 units in the month of January 2019, compared to the 52,063 units in the corresponding month in 2018. In terms of domestic sales, the company sold 52,500 vehicles as against 49,432 units a year ago. Also, the exports witness a drastic growth of 22 per cent as the figures stood at 3,222 units in January FY'19.

In terms of segment sales, Mahindra’s passenger vehicles segment stood almost stagnant showing just 1 per cent growth at 23,872 units sales in January FY'19 compared to 23,686 units in January 2018. The utility vehicle sales heightened marginally with a difference of just 28 units for last month, overall UV sales stood at 22,263 units. The commercial vehicle (CV) segment took a decent growth jump of 8 per cent, as the overall sales figures reached at 22,625 units for January FY'19 compared to the 21,002 units in the corresponding month of 2018.

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Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M said, “The first month of the new calendar year continues to be on an overall growth path. There is buoyancy in rural growth, commodity costs are leveling, fuel prices are coming down and we see improvement in Forex movement, which in turn will drive positive customer sentiment. Having successfully established the Marazzo & Alturas brands and with the upcoming launch of our new compact SUV, the XUV300, we are positive on our outlook”.

The brand recently introduced the new Marazzo MPV along with the Toyota Fortuner rival, Alturas SUV. That said, the company is also looking forward to launching the much awaited XUV300, and with its launch the Indian auto major hopes to rope in even more customers, boosting the sales figures further.

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