Mahindra & Mahindra has recorded a year-on-year (YoY) sales growth of 8 per cent in the utility vehicles segment selling 19,384 units as compared to 17,971 units which were sold in the same month last year. The company sold just 74 units of the passenger cars + Vans witnessing a slump of 69 per cent. the passenger vehicle segment (SUVs + Cars) recorded an uptick of 7 per cent selling 19,458 units as against 18,212 units sold a year ago. Overall, the company recorded a growth on 8 per cent selling 40,802 units, including both passenger vehicles and commercial vehicles.
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Mahindra says the demand remains strong across our product portfolio of SUVs.
According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., "Our growth in SUVs continues with an 8 per cent increase in the month of November. The demand remains strong across our product portfolio of SUVs, Pickups, and Small Commercial Vehicles. Momentum in exports continues with a 90% growth. The issues around semi-conductor related parts continue to remain a challenge for the industry. We are monitoring the situation closely and taking appropriate steps."
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Mahindra too has been facing production issue because of the semicoinductor issue.
On year-to-date (YTD) basis in the March 2021 - November 2021 period, sales of utility vehicles went up by 51 per cent selling 1,31,434 units as compared to 86,959 units sold a year ago. The cars + Vans segment recorded an uptick of 12 per cent 1509 units as compared to 1350 units sold a year ago. Overall, the passenger vehicle segment too witnessed an uptick of 51 per cent selling 1,32,943 units as compared to 88,309 units sold a year ago.
