Mahindra Vehicle Sales Up 17% in May

New Delhi, Jun 1 (PTI) Mahindra & Mahindra on Sunday reported a 17 per cent year-on-year increase in total sales at 84,110 units in May.

In the utility vehicles segment, the Mumbai-based automaker sold 52,431 vehicles in the domestic market, a growth of 21 per cent, as compared to 43,218 units in May last year.

"Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio," Mahindra & Mahindra (M&M) CEO Automotive Division Nalinikanth Gollagunta said.

The company said its tractor sales in the domestic market stood at 38,914 units last month, as against 35,237 units in May 2024.

Total tractor sales (domestic and exports) last month were at 40,643 units, as against 37,109 units for the same period last year.

Early advancement of above-normal Southwest monsoon should bode well for kharif sowing, M&M President - Farm Equipment Business Veejay Nakra said.

"Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels, government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand," he added.