Mahindra & Mahindra Registers 10 Percent Sales Growth with 62,077 units in March 2018
Witnessing an overall growth of 8 percent, Mahindra and Mahindra achieved sales milestone of 5 lakh sales during the previous financial year.
Mahindra and Mahindra, a homegrown automaker has officially announced sales growth for the last month of the financial year 2017-18 wherein the utility maker registered a growth of 10 percent. During the month of March 2018, the SUV maker recorded total sales of 62,077 units against 56,202 units in the same month last year. Registering a growth of 10 percent, the utility maker sold more than 5 lakh units in the last financial year. The passenger vehicle sales also increased by 4 percent wherein the car maker retailed 26,555 units last month in comparison to 25,523 units in the corresponding month last year. Moreover, the car maker also regained its position as top UV maker in India for Q4, 2018 by selling 67,805 units in comparison to 62,573 units in the same quarter last year.
Commenting on the company's performance, Rajan Wadhera, President, Automotive Sector, Mahindra, said, "Mahindra regained the No. 1 position in UV market share in Q4 F18 through a combination of factors and efforts. On the product front, power brands Bolero Power+ and the new all-powerful Scorpio saw demand growing in F18 while product and marketing interventions have brought increased traction for the TUV300 and the refreshed KUV100 NXT. Our focused rural strategy has led to increased network reach and penetration in rural and upcountry markets and brought us 12% overall growth in upcountry markets. Finally, our focus on digital has led to a strong 8 per cent sales contribution for key UV brands coming from online leads."
On the other hand, the commercial vehicle space witnessed an increase of 11 percent wherein the UV maker sold 25,496 units last month, compared to 22,908 units retailed in the same month last year. The company also saw a growth of 30 percent in three-wheeler sales as Mahindra retailed 6602 units against 5062 units last year. The exports for the last month stood at 3424 units with a growth of 26 percent. Moreover, the sales for the auto sector in the FY 2017-18 saw a growth of 8 percent with 5,49,154 unit retailed against 507,598 units last FY.
(The above story first appeared on LatestLY on Apr 03, 2018 12:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).