- Utility vehicle sales jump by 44 per cent
- Exports stood at 1,827 units
Mahindra and Mahindra has reported that it sold a total of 28,777 units of vehicles in the month of February 2021. This cumulative record consists of passenger vehicles, commercial vehicles, and exports to the global markets. As compared to the same period last year, the overall sales were down by 11.3 per cent.
Under the domestic sales category, Mahindra retailed 15,380 units of its utility vehicles which escalated by 44 per cent as against 10,675 units in February 2020. The cars and vans segment observed a positive rise by 41 per cent with 15,391 units in the previous month. The exports have slumped by roughly one per cent at 1,827 units. The reason for poor sales can be attributed to the component shortage faced by the company since a few months.
Meanwhile, the Indian car manufacturer has quite a few launches in the pipeline this year in the form of the Bolero Neo, Scorpio, and the XUV500. It also recently launched the XUV300 petrol AMT, details of which can be read here.
According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., “At Mahindra, we have witnessed a growth of 44 per cent in UVs for the month of February 2021. Demand continues to remain buoyant for our range of SUVs and Pick-ups and we have a robust order pipeline. However, supply of semiconductors, as we all know, is a global issue and it is likely to continue for another three to four months. Going forward, we will continue to monitor the situation and closely work with our suppliers to minimise this supply risk.'