Mahindra registers 4 per cent growth in PV segment

- Passenger vehicle sales stood at 27,646 vehicles in March 2019.

- Mahindra sold 6,08,596 vehicles for the financial year ended March 31, 2019.

Mahindra has recorded a marginal growth of 1 per cent in March 2019 sales. The company sold a total of 62,952 vehicles last month as compared to 62,076 units sold during the same month the previous year. Domestic sales stood at 59,012 units during March, as against 58,652 vehicles in March 2018. Sales rose to 6,08,596 vehicles for the FY 2018-2019, compared to 5,49,153 units during FY2017-18, thereby registering a growth of 11 per cent. 

Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "We have closed FY-19 with robust double-digit growth of 11 per cent 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 per cent and 37 per cent respectively."

The PV segment registered sales of 27,646 vehicles in March 2019, with a growth of four per cent. In comparison, the commercial vehicles segment recorded overall sales of 24,423 units in March 2019, against 25,495 units in the corresponding period last year. Additionally, the company sold 917 medium and heavy commercial vehicles for the month. Exports stood at 3,940 vehicles in March 2019, which amounts to a growth of 15 per cent.