Mahindra & Mahindra Ltd sees 22 percent in passengers vehicle sales

Mahindra & Mahindra Ltd on Thursday reported a 22 per cent increase in passenger vehicle sales at 32,886 units in May, as compared to the same month last year.

The company had posted a total passenger vehicle sales of 26,904 units in May 2022, Mahindra & Mahindra (M&M) said in a regulatory filing. Utility vehicles sales last month were at 32,883 units, as against 26,632 units in the year-ago period, a growth of 23 per cent, it added. Sales of cars and vans were at 3 units as compared to 272 units in May last year.

"We continue our growth trend, backed by strong demand in SUVs," M&M President, Automotive Division Veejay Nakra said. He, however, said, "The sales volume for both SUVs and 'Pik-Ups' were restricted by a short-term disruption in engine-related parts at the supplier-end.

The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too." Total exports were at 2,616 units last month, up 29 per cent from 2,028 units in May 2022, the company said. In the farm equipment sector, M&M said its total tractor sales were at 34,126 units as compared to 35,722 units in May last year, down 4 per cent. Domestic tractor sales declined 3 per cent at 33,113 units as compared to 34,153 units in the same month a year ago. Tractor exports were also down 35 per cent at 1,013 units from 1,569 units in May 2022, M&M said