The domestic sales for small commercial vehicles (LCV < 3.5T) stood at 19,053 vehicles. The sales volume for both SUVs and PikUps were restricted by a short-term disruption in engine-related parts at the supplier end. The semiconductor supply constraints on specific parts like Air Bag ECU also continued in this month. Exports for the month were at 2,616 vehicles (up 29% YoY).
In the commercial vehicles segment, Mahindra sold 40,124 vehicles (up 61% YoY) in May 2023. Exports for the month were at 2,616 vehicles (up 29% YoY).
Veejay Nakra, President, Automotive Division, M&M, said, “We continue our growth trend, backed by strong demand in SUVs. We sold a total of 33,931 units, translating into a domestic growth of 23% in May. We have delivered a healthy YoY growth in 3-Wheelers and export segments as well. The sales volume for both SUVs and Pik-Ups were restricted by a short-term disruption in engine-related parts at the supplier end. The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too.”
M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
Mahindra & Mahindra's (M&M) standalone net profit rose 22.1% to Rs 1,548.97 crore on 30.94% jump in revenue from operations to Rs 22,571.37 crore in Q4 FY23 over Q4 FY22.
The scrip rose 0.73% to Rs 1328 on the BSE.