Mahindra And Mahindra Sales Report

Mahindra and Mahindra has announced the financial results of the company and the Mahindra Group, which comprises of its automotive business, tractor business and the newly merged Mahindra Two Wheelers Limited, for the second quarter (Q2) of financial year 2017-18. Between July 1 and September 30, 2017, Mahindra managed to sell a total of 1,29,754 passenger cars, 76,894 tractor units and a 2,709 trucks.

In it’s report, the company claimed that the Indian automotive industry witnessed a growth of 13.4 per cent in the passenger vehicle segment while the utility vehicle segment grew by 27 per cent. In the UV segment, Mahindra sold the highest number of the new-gen Scorpio in September 2017. This period also witnessed the launch of the TUV300 T10 variant and the updated KUV100.

Last month, the Mumbai Bench of the National Company Law approved the merger of Mahindra Two Wheelers Limited with the Mahindra Group. Hence, the financial report for this quarter also includes earnings from the company’s two-wheeler business.

Meanwhile, the tractor and medium and heavy commercial vehicle segment grew by 37 percent and 30.6 per cent, respectively. Mahindra has attributed the growth in the industry to the positive sentiment among farmers due to a favourable monsoon this year and claims that the growth is likely to continue owing to the increase in minimum sales price of both Kharif and Rabi crops.

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The homegrown manufacturer has seen a growth in terms of exports as well. The Mahindra Group exports passenger vehicles, tractors and commercial vehicles to as many as 70 different countries. In the last quarter, Mahindra exported a combined total of 11,755 units across the world. With favourable conditions all around, this figure is only set to grow day by day, said the manufacturer.