M&M domestic passenger vehicle sales up 33% in July at 28,053 units

Mahindra & Mahindra Ltd reported a 33 per cent increase in domestic passenger vehicles sales in July this year at 28,053 units, driven by its utility vehicles

Mahindra & Mahindra Ltd on Monday reported a 33 per cent increase in domestic passenger vehicles sales in July this year at 28,053 units, driven by its utility vehicles.

The company had sold 21,046 units in the same month last year, Mahindra & Mahindra (M&M) said in a regulatory filing.

Domestic utility vehicle sales during the month were at 27,854 units, as against 20,797 units in the year-ago month, a growth of 34 per cent, it added.

On the other hand, sales of cars and vans were down 20 per cent at 199 units, as compared to 249 units a year ago, M&M said.

M&M President, Automotive Division, Veejay Nakra said the company witnessed robust demand for its brands, including XUV700, Thar, Bolero and XUV300.

"The supply chain situation continues to remain dynamic, and we are monitoring the situation closely," he added.

M&M said sales of commercial vehicles were at 20,946 units last month, as against 17,666 units in the year-ago month, a growth of 18.56 per cent.

Total tractor sales were, however, down 14 per cent at 23,307 units last month, as compared to 27,229 units in July 2021, it added.

Domestic tractor sales were down 16 per cent at 21,684 units, as against 25,769 units in the year-ago month. Exports were at 1,623 units as compared to 1,460 units, a growth 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 said.

While the monsoon has stayed on course so far, few states in the eastern part of the country -- which are key paddy producing markets -- have received deficient rainfall until now and recovery in rainfall there is crucial, he added.

On the outlook, Sikka said, "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.