Mahindra has released its sales results for November 2020. It may be seen from the attached tables that the company has noted a growth of 4 percent in overall auto sales, which included passenger and commercial vehicles and exports. Total sales stood at 42,731 units in the past month, up from 41,235 units sold in November 2019.
In the PV segment, utility vehicle sales increased 27 percent to 17,971 units, up from 14,161 units sold in Nov 19. It was the recently launched Mahindra Thar, launched on October 2nd, that gave rise to UV sales in the past month. Thar SUV has seen bookings above the 20,000 unit mark in the first month of launch and currently buyers are facing upto 7 months waiting period for the same.
Mahindra car and van sales dipped 49 percent to 241 units, down from 476 units sold in Nov 19. Total PV sales stood at 18,212 units in the past month as against 14,637 units sold in Nov 19. The company pinned these double digit growth figures to increased festive sales along with better rural demand coupled with an improvement in the economy in the country.
YTD date sales dipped 36 percent to 88,309 units, down from 1,37,168 units sold in the same period of the previous year. However, it should be remembered that the April to June 2020 period were among the worst that the auto industry has experienced.
Mahindra also noted de-growth in terms of commercial vehicle sales in November 2020. Even as sales of LCV in the sub 2 ton segment and LCV in the 2-3.5 ton segment increased 19 percent and 9 percent respectively, LCV sales in the 3.5 ton and MHCV sales dipped 31 percent to 475 units, down from 684 units sold in November 2019.
Three wheeler sales along with sales of its electric three wheelers also dipped 42 percent to 3,854 units in the past month, down from 6,593 units sold in the same month of the previous year. In the small CV segment, the Mahindra Bolero, Supro and Jeeto continued to see strong demand both in urban and rural markets.
Exports fell to 1,636 units, down 38 percent as against 2,621 units exported in November 2019 while year to date figures fell to 9,932 units, down 52 percent as against 20,723 units exported in the same period a year ago
Mahindra’s Farm Equipment Sector registered growth of 55 percent in terms of domestic sales. Total domestic sales stood at 31,619 units, up from 20,414 units sold in November 2019 while exports increased 79 percent to 1,107 units in the past month, up from 617 units sold in the same month of the previous year. This took total sales in this segment up 56 percent to 32,726 units, up from 21,031 units sold in the same period last year.