Companies

June domestic sales cheer M&M

Our Bureaus Mumbai/Coimbatore | Updated on November 25, 2017 Published on July 01, 2014

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Mahindra & Mahindra Ltd, which straddles across different product segments-from SUVs, commercial load vehicles to tractors - has posted an increase in sales in both auto and tractor segments during June this year in the domestic market compared to the corresponding month last year.

Mahindra & Mahindra Ltd sold 38,471 vehicles in June 2014, a marginal rise compared with 38,092 units sold during the same month a year ago.

The company’s passenger vehicles segment (which includes utility vehicles and the Verito) sold 16,780 units in June 2014 against 17,232 units during June 2013. M&M’s domestic sales stood at 36,457 units during June 2014 against 36,207 units during June 2013.

In June 2014, the four-wheelers commercial segment sold 14,138 units, while the three-wheelers segment clocked 4,544 units. Exports for the month stood at 2,014 units.

"We have achieved a marginal growth in our sales during June 2014 and do hope that the auto industry will continue to stay in a positive zone. The recent announcement by the government of an extension in the lowering of excise duty will provide a fillip leading upto the festive season. At Mahindra, we are happy with our exports performance for the first quarter of FY 2015, which has grown by 38 per cent,” said Pravin Shah, Chief Executive Officer, Automotive Division & International Operations (AFS), M&M.

While domestic sales on a cumulative basis in the first three months of the current fiscal have shown a 10 per cent dip for the auto sector, it was only marginally higher for the tractor segment. Even as exports for the auto sector turned positive both during last month and in the first quarter of this year, the tractor exports slipped on both counts.

Tractor sales

Despite concerns over erratic monsoon so far, M&M’s farm equipment division put up a better show with the domestic tractor sales showing an eight per cent increase to 28,893 units in June this year as against 26,723 units in the same month last year. But exports were less by 3 percent to 991 units as against 1026 units in June 2013. The total sales in June this year were 8 per cent higher at 29,884 units (27,749 units).

But on a cumulative basis, while tractor sales in the domestic market edged up marginally by 1 per cent to 71,920 units in the first three months of current fiscal (71,390 units), exports declined sharply by 17 per cent to 2,635 units in June-ending quarter this year as compared to 3,187 units in the corresponding quarter last year. The total tractor sales were flat at 74,555 units in April-June quarter this year (74,577 units).

Rajesh Jejurikar, Chief Executive, Farm Equipment and Two Wheeler Division of M&M, expressing satisfaction over the 8 per cent jump in June 2014 sales in the domestic market, said pick up in monsoon rains during this month would enable increased coverage of kharif crop leading to higher agricultural output.

Shares of M&M were trading higher by Rs 46.85 at Rs 1194.05 (share face value Rs 5) on the NSE with a trading volume of 7.25 lakh shares.

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Published on July 01, 2014
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