Mahindra Auto SUV Sales Hit Record High in October With 54,504 Units in Domestic Market, Company Marks 25% Growth

Mahindra Auto SUV Sales Hit Record High in October With 54,504 Units in Domestic Market, Company Marks 25% Growth

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Mumbai, November 1: Leading domestic automobile manufacturer Mahindra & Mahindra Ltd on Friday said that its overall auto sales for the month of September stood at 96,648 vehicles, including exports, which is a 20 per cent year-on-year growth. In the utility vehicles (SUV) segment, the automaker sold 54,504 vehicles in the domestic market, a growth of 25 per cent and overall, 55,571 vehicles, including exports. The domestic sales for commercial vehicles stood at 28,812, said the company. Volkswagen Profit Drops 42%, Sales Decline 8.3% in 3rd Quarter Amid Announcement of Mass Layoffs, Plant Shutdowns: Report.

“We are excited to have clocked the highest-ever SUV sales of 54,504 vehicles in October, a growth of 25 per cent and highest ever total volume of 96,648, a growth of 20 per cent,” said Veejay Nakra, President, Automotive Division, M&M Ltd. In the commercial-vehicle space, including three-wheelers, sales rose 5 per cent year-on-year to 9,826 units as against 9,402 units last year, said the company.  “The month began on a fantastic note with Thar ROXX garnering 1.7 lakh bookings in the first 60 mins and the positive momentum continued across the SUV portfolio through the festive season,” he added. Xiaomi SU7 Sales Surge: CEO Lei Jun Says Xiaomi Sold 20,000 Units of Its Electric Sedan in October, Targets 1,00,000 Sale by November 2024.

In September, the automaker said its overall auto sales stood at 87,839 vehicles, including exports, which is a 16 per cent growth (year-on-year). In the month of September, the automaker exported 3,027 vehicles, a 25 per cent YoY growth from 2,419 vehicles last year. As private consumption rises across the country, there has been a surge in auto loans for car ownership as people from tier 2, 3 cities and beyond opt for longer-tenure financing options to afford latest vehicles. About 80 per cent of car purchases in the country are financed through bank loans or non-banking financial companies (NBFCs).

(The above story first appeared on LatestLY on Nov 01, 2024 11:23 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

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