Mahindra & Mahindra reported a 17% increase in total wholesales in May, reaching 71,682 units. Passenger vehicle sales surged 31%, while tractor sales rose 9%.
New Delhi, Jun 1 (PTI) Mahindra & Mahindra on Saturday said its total wholesales increased 17 per cent year-on-year to 71,682 units in May.
The company's total dispatches to its dealers stood at 61,415 units in May 2023.
The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 31 per cent to 43,218 units last month against 32,886 units in May 2023, it said in a statement.
Exports rose 2 per cent year-on-year to 2,671 units last month from 2,616 units in May 2023.
Mahindra's Farm Equipment Sector (FES) reported 9 per cent increase in total tractor sales at 37,109 units as against 34,126 units for the same period last year.
"Coupled with timely arrival of southwest monsoon in Kerala and northeast states and forecast of an above normal monsoon has improved the on-ground sentiments of farmers," Mahindra & Mahindra President, Farm Equipment Sector Hemant Sikka said.
Land preparation activities for Kharif crops are expected to begin on time, which is likely to boost tractor demand in coming months, he added.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback