Mahindra posts record 61% growth in December

  • Mahindra registered 62 per cent growth in the utility vehicle segment in December 2022.
Mahindra_Scorpio-N remained a key model from the brand that helped in boosting sales numbers.
Mahindra_Scorpio-N remained a key model from the brand that helped in boosting sales numbers.

Mahindra & Mahindra Ltd. on Monday announced that the automaker sold 28,445 passenger vehicles in December 2022, up 61 per cent from 17,722 units recorded in the same month of 2021. In the utility vehicle segment, which is Mahindra's strong point, the homegrown auto manufacturer registered 28,333 units in December 2022, up 62 per cent from 17,469 units sold in the same month a year ago. In the cars and van segment, The automaker sold 112 units last month, down 56 per cent from 253 units recorded in December 2021.

Mahindra also stated in a regulatory filing that it sold 259,858 units in April-December 2022 period, up 72 per cent from 150,665 units registered in the same period of the last financial year. In the utility vehicle segment, the automaker sold 257,849 units during the same period, up 73 per cent from 148,903 units recorded in the corresponding period of the last fiscal.

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In the cars and van segment, the automaker posted 14 per cent sales growth during the first nine months of the current financial year, with 2,009 units as compared to 1,762 units sold in the first nine months of the previous fiscal. Mahindra has stated that the sales numbers include internal combustion engine-powered vehicles as well as electric vehicles also.

Speaking about the automaker's sales performance, Veejay Nakra, President of the Automotive Division, M&M Ltd., said that continuous interest from the customers has led to strong demand across the brand's passenger vehicle portfolio in December 2022. He also said that this positive consumer sentiment and high demand had helped the automaker to witness 61 per cent growth in the passenger vehicle segment and 45 per cent overall growth. However, Nakra also mentioned that supply chain disruptions are not over yet. "Due to continuing international disruptions and increasing coronavirus cases, we are keeping a close watch on the dynamic supply chain situation," he said.

First Published Date: 02 Jan 2023, 11:12 AM IST
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