On Wednesday, Mahindra & Mahindra (M&M) noted a 17 per cent surge in its domestic passenger vehicle sales. Around 15,973 units were sold in August alone, a whopping increase against the same month past year. M&M, after its major gain in the market, said that “The company had sold 13,651 units in August 2020.”
As per the latest numbers, in the commercial vehicles segment, the company reported sales of around 11,432 vehicles a past month in the domestic market compared to sales of 15,606 units during the same month past year. This recorded a dip of at least 27 per cent in net sales.
Despite the ongoing pandemic crisis, Mahindra and Mahindra managed to amplify their reach. It recorded an increase in exports in the previous month with a sale of 3,180 units compared to 1,169 units sold last year.
Veejay Nakra, Chief Executive Officer Automotive Division at M&M averred that “Demand across our product portfolio continues to remain strong with Thar, XUV 300 and our recently launched Bolero Neo and our Bolero Pik-up range clocking in impressive booking numbers. Growth momentum in exports continued with sales of 3,180 vehicles, registering an increase of 172 per cent.” The supply of semiconductors continues to be a global issue for the auto industry and has been a major area of focus for the company as well, he further added.