Mahindra reports overall growth of 11 percent for FY19. For the FY ended March 31, 2019, sales stood at 6,08,596 units, up from 5,49,153 units sold during FY18. For the FY, Mahindra Auto finds itself in the green for all segment sales. For March 2019, Mahindra reports 62,952 units sold at marginal growth ( 1 percent) over March 2018 when the company sold 62,076 units.
Mahindra domestic sales are reported at 59,012 vehicles during March 2019, up from 58,652 vehicles in March 2018 at 1 percent increase. Exports for the month are up 15 percent at 3,940 units, up from 3,424 units.
Passenger vehicle segment (which includes UVs, Cars and Vans) sales account for 27,646 units in March 2019, up 4 percent from 26,555 units sold in March 2018. In the CV segment, Mahindra sold 24,423 vehicles in March 2019, down 4 percent from 25,495 vehicles sold in March 2018.
Medium and Heavy Commercial Vehicles segment sales stood at 917 vehicles for March 2019, down 33 percent from 1,377 units sold in March 2018. For March 2019, Mahindra CV and EV sales, and exports are in the red.
Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We have closed FY-19 with robust double digit growth of 11% at an overall level, despite strong headwinds faced by the Indian automotive industry this year.
This growth has been supported by our three new product launches, which have been well received in the market. The commercial vehicles segment and exports have also posted strong growth rates of 15% and 37% respectively.”
In the last fiscal, Mahindra launch 3 important products, each in a different segment. The first was Marazzo MPV, followed by Alturas full-sized 7 seater SUV and the entry level XUV300 sub 4 meter SUV. All three cars have managed to perform well on the sales charts. Marazzo sales are at about 3,000 units a month, while that of XUV300 are at about 4,500 units a month. Alturas, which is the most expensive Mahindra ever to be launched, is also doing well with about 400 units sold in Feb 2019.