Mahindra XUV300 expected to boost company sales – Dec 2018 sales report

Mahindra has revealed Dec 2018 sales figures.

Mahindra auto sales for December 2018 were reported at 39,755 vehicles, a gain of 1 percent, up from 39,200 vehicles sold in December 2017. Domestic sales were reported at 36,690 vehicles, down 1 percent from 36,979 vehicles sold in December 2017.

Exports are up 38 percent at 3065 units, up from 2221 units exported in Dec ’17. Passenger vehicle segment (UVs, Cars and Vans) sales are reported at 15,091 units in December 2018, at 3 percent sales decline, down from 15,543 units sold in Dec ’17. Commercial vehicle segment sales are reported at 16,906 units, down 4 percent from 17,542 units sold in Dec ’17. Medium and Heavy Commercial Vehicles segment sales are reported at 824 units, down 31 percent from 1193 vehicles sold in the corresponding period.

In the current FY, first three quarter (Q1 + Q2 + Q3) sales (April 2018 to Dec 2018) are up despite a slow December 2018. Mahindra reports domestic sales at 405,574, up 11 percent from 3643,75 units sold in the first three quarters of the last FY. For the same nine months exports have gained 45 percent at 28,343 units, up from 19,512 units sold in the same nine months last year. Total Sales (Domestic + Export) for FY19 are reported at 433,917 units, up 13 percent from 383,887 units sold in the same period in FY18.

Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We are happy to have ended the first nine months of the year on a positive growth of 13%, and are particularly buoyed by our ongoing strong performance in Exports. However, in domestic market, challenges relating to tight liquidity and low buying sentiment continue the de-growth for December. We hope to see good performance in Q4, owing to the anticipated rural demand because of the harvesting season and the launch of our new XUV300 in February 2019.”

For the same period, Mahindra Farm Equipment Sector (FES) reported 16,510 tractor units sold in the domestic market, down 2 percent from 16,855 units sold in December 2017. Total tractor sales (domestic + exports) are reported at 17,404 units, down 6 percent from 18,488 units sold in December 17. Exports at 894 units are down 45 percent down from 1,633 units sold in Dec ’17.

Rajesh Jejurikar, President – Mahindra Farm Equipment Sector said, “Even though the Rabi crop sowing has been lower than desired, we hope that the government’s initiatives in the agri and rural sectors would enable tractor sales momentum in Q4 FY19.”