Mahindra’s Auto Sector sells 25,678 vehicles in July 2020

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, today announced its auto sales performance for the month of July 2020.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 11,025 vehicles in July 2020, compared to 16,831 vehicles in July 2019.

In the Commercial Vehicles segment, the company sold 13,103 vehicles in July 2020, as against 15,969 vehicles in July 2019.

Exports for the month of July 2020 were at 1,467 vehicles.

The company’s overall automotive sales (Domestic+Exports) stood at 25,678 vehicles in July 2020, compared to 40,142 vehicles during July 2019.

Commenting on the performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “At Mahindra, we are happy to see a growing trend in our overall vehicle sales, buoyed by the continuing revival in demand, primarily in rural and semi urban India. It is encouraging to see that the enquiry and booking levels in July are significantly higher compared to June, both for Utility Vehicles and Small Commercial Vehicles. As we ramp up production, the biggest challenge is on the supply side and working around these challenges is our top priority.”

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.606.5 as compared to the previous close of Rs. 597.85. The total number of shares traded during the day was 82529 in over 2176 trades.

The stock hit an intraday high of Rs. 611 and intraday low of 592.4. The net turnover during the day was Rs. 49736583.

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