Mahindra & Mahindra Ltd on Monday reported a 33 per cent enhance in home passenger autos gross sales in July this 12 months at 28,053 items, pushed by its utility autos.
The firm had bought 21,046 items in the identical month final 12 months, Mahindra & Mahindra (M&M) stated in a regulatory submitting.
Domestic utility car gross sales through the month have been at 27,854 items, as towards 20,797 items within the year-ago month, a progress of 34 per cent, it added.
On the opposite hand, gross sales of vehicles and vans have been down 20 per cent at 199 items, as in comparison with 249 items a 12 months in the past, M&M stated.
M&M President, Automotive Division, Veejay Nakra stated the corporate witnessed strong demand for its manufacturers, together with XUV700, Thar, Bolero and XUV300.
“The supply chain situation continues to remain dynamic, and we are monitoring the situation closely,” he added.
M&M stated gross sales of business autos have been at 20,946 items final month, as towards 17,666 items within the year-ago month, a progress of 18.56 per cent.
Total tractor gross sales have been, nevertheless, down 14 per cent at 23,307 items final month, as in comparison with 27,229 items in July 2021, it added.
Domestic tractor gross sales have been down 16 per cent at 21,684 items, as towards 25,769 items within the year-ago month. Exports have been at 1,623 items as in comparison with 1,460 items, a progress of 11 per cent.
“July is traditionally a lean month as the land preparation phase, wherein a tractor finds highest utility, gets over and farmers start sowing their crops,” M&M President Farm Equipment Sector, Hemant Sikka stated.
While the monsoon has stayed on track up to now, few states within the jap a part of the nation — that are key paddy producing markets — have acquired poor rainfall till now and restoration in rainfall there may be essential, he added.
On the outlook, Mr Sikka stated, “festive season falling in the later half of August and sufficient rainfalls across most of geographies will shape up the industry in the upcoming months.”
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