HomeAuto NewsM&M March auto sales at 40,403 units; tractor sales jump to 30,970 units

M&M March auto sales at 40,403 units; tractor sales jump to 30,970 units

Mahindra & Mahindra Ltd. (M&M) reported total auto sales for the month of March 2021 at 40,403 vehicles, compared to 6,679 in March 2020. The sales numbers were higher than CNBC-TV18 poll estimates of 35,500 units.

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By Ankit Gohel  April 1, 2021, 1:14:39 PM IST (Published)

M&M March auto sales at 40,403 units; tractor sales jump to 30,970 units
Mahindra & Mahindra Ltd. (M&M) reported total auto sales for March 2021 at 40,403 vehicles, compared to 6,679 in March lasy year. The sales numbers were higher than CNBC-TV18 poll estimates of 35,500 units.


The company had reported total sales of 28,777 units in February 2021.

The Passenger Vehicles segment (which includes UVs, cars and vans) sold 16,700 vehicles in March 2021 in the domestic market. Sales of commercial vehicles stood at 21,577 units.

Total auto exports stood at 2,126 units.

The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the onset of pandemic during mid-March last year, the company said.

The company’s total Passenger Vehicles sales in FY21 declined 16 percent to 157,216 units from 186,977 units in FY20.

“At Mahindra, we are witnessing very good momentum in demand and have a strong pipeline of bookings across our SUV range of Bolero, Scorpio, XUV300, All-New Thar and also the Bolero Pik-up. In fact, Bolero volumes for March has been the highest in this financial year and despite supply constraints, we have been able to ramp up production of Bolero Pik-up significantly during the month,” said Veejay Nakra, Chief Executive Officer, Automotive Division, M&M.

The supply challenges s expected to remain for the next two to three months and then ease out gradually, he added.

M&M’s Farm Equipment Sector (FES), reported total tractor sales during March 2021 at 30,970 units, as against 13,613 units for the same period last year.

Domestic sales in March 2021 were at 29,817 units, as against 13,418 units during March 2020. Exports for the month stood at 1,153 units.

“We have sold 29,817 tractors in the domestic market during March 2021 with a growth of 122% over last year. Impact of lower base coupled with continued positive sentiments driven by healthy reservoir levels, higher MSP and increased liquidity, have led to strong wholesale growth in March,” said Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd.

Tractor demand is expected to remain strong as Rabi harvesting is progressing well along with the onset of sowing of summer crops in select markets, he added.

At 12:55 pm, the shares of M&M were trading 0.92 percent lower at Rs 787.80 apiece on the BSE.
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