Mahindra & Mahindra have recorded a 10 percent growth in 2018, as a direct result of 62,077 units dispatched. This has enabled the company to cross over the 5 lakh mark for the financial year of 2018, which is five year high.
The company has recorded sales to the tune of 26555 units in 2018 with respect to passenger vehicles, registering an impressive 4 percent growth rate. The company’s commercial arm in has on the other hand managed to grow by 11 percent with a production output of 25496 units.
Rajan Wadhera, President of the Automotive Sector at M&M Ltd. was quoted saying, “We are extremely happy to have achieved a sales milestone of 5 lac plus units during the last financial year, with an overall growth of 8%. This is testimony to the good performance of both passenger as well as commercial vehicles. We are particularly buoyed by the growth of our truck business, which has outperformed the industry. With three of our critical new automotive launches lined up in FY19, we are confident of increasing our market share in the utility vehicle space”.
These strong figures recorded have been credited to a greater demand for commercial vehicles that grew by 20 percent while the small car segment managed to grow by 5 percent.
The current financial year has seen Mahindra sell 5.2 lakh units in comparison to the 4.7 lakh units sold in the previous financial year. Total sales, inclusive of exports were 5.49 lakh units in comparison to 5.07 units sold in the 2017 financial year.
The small commercial vehicle sector has recorded 20 percent growth, while the medium and heavy truck segments have doubled their growth at 41 percent in FY-18 with sales of 9484 units.