Mumbai: Mahindra and Mahindra (M&M) on Monday reported a 10 per cent year-on-year rise in its automobile sales during March 2018.
According to the company, total auto sales including exports in March 2018 increased to 62,077 units, against 56,202 units sold during the same month last year.
Besides, M&M’s domestic sales rose by 10 per cent to 58,653 vehicles from 53,493 vehicles sold in March 2017.
Segment-wise, sales of domestic passenger vehicle category which includes utility vehicles, cars and vans stood at 26,555 vehicles as against 25,523 vehicles sold during March 2017, registering a growth of four per cent.
The commercial vehicle segment of the domestic market, the automobile major sold 25,496 vehicles in the month under review, up 11 per cent on a year-on-year basis.
In addition, exports in March 2018 stood at 3,424 units, up 26 per cent from 2,709 units which were shipped out in March 2017.
For the financial year ended March 31, 2018, M&M’s auto sales stood at 549,154 vehicles compared to 507,598 vehicles during FY2017, registering a growth of eight per cent.
Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M said: “We are particularly buoyed by the growth of our truck business, which has outperformed the industry.”
“With three of our critical new automotive launches lined up in FY19, we are confident of increasing our market share in the utility vehicle space,” he added.