Mahindra & Mahindra’s PV sales grow 8% in May

Mahindra & Mahindra’s passenger vehicles segment (which includes UVs, cars and vans) sold 19,635 units in May 2016 as against 18,135 units during May 2015, representing a growth of 8%.

Of these, the company’s mainstay UV segment sold a total of 18,648 vehicles with a YoY growth of 10%. During the month, sales of the CV division also improved with a 15% rise to 13,109 units. As a result, domestic sales stood at 36,613 units during May 2016, as against 33,369 units during May 2015, a growth of 10%.

Within the CV division, M&M extended its lead in the LCV segment (below 3.5 tonnes) with sales of 11,852 units and a growth of 15%. Similarly, with a good response to the company’s new Blazo truck range, its medium and heavy commercial vehicles segment sold 501 units in May, registering a growth of 46%.

Exports for the company also rose during the month by 21% to 4,043 units. The total auto sales numbers rose 11% to 40,656 units. 

Commenting on the auto sales performance for May 2016, Pravin Shah, president and chief executive (Automotive), M&M, said, “We are happy to have achieved  an overall growth of 11% during May 2016, in the midst of regulatory uncertainties. The favourable monsoon projections will definitely lead to improved buyer sentiment that would likely bring buoyancy in overall demand across all segments of the automotive industry. Going forward, we expect that our wider product portfolio will drive our growth. The continuing growth in our M&HCV and export volumes is also encouraging. Further the upcoming e-Verito launch, on June 2, will add a new and innovative product to our EV range.” 

Shah added, “We hope that regulatory interventions will settle at the earliest to enable the auto industry to operate in a stable regime and contribute to the planned growth of India’s GDP.”