Mahindra sales rise 21% to 70,576 units in November, export declines

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Mahindra & Mahindra on Friday said its total wholesales increased by 21 per cent year on year to 70,576 units in November.


The Mumbai-based automaker had dispatched 58,303 units in November 2022. Utility vehicle dispatches stood at 39,981 units last month, an increase of 32 per cent over 30,238 units in the year-ago period, Mahindra & Mahindra (M&M) said in a statement.


Exports, however, declined 42 per cent last month to 1,816 units as compared to 3,122 units in November 2022.


“We continue our growth trend, backed by strong demand for our SUV portfolio…While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges,” M&M President Automotive Division Veejay Nakra said.


M&M said its tractor wholesales stood at 32,074 units in November as compared to 30,528 units in the year-ago period.


Exports, however, declined to 1,005 units last month from 1,348 units in November 2022.


“The festive season saw high demand pull in the domestic market, supported by Kharif harvest realisations, with retails being strong during Dhanteras and Diwali,” M&M President-Farm Equipment Sector Hemant Sikka said.


Terms of trade continue to be favourable for farmers, while rural spending by the government and progress in rabi sowing are the factors to watch out for, he added.