Mahindra February sales up 19 to 51127 units

Lloyd Doyle
March 2, 2018

The introduction of new models by the trio of Maruti Suzuki India, Mahindra & Mahindra and Tata Motors, helped automobile majors clock a double-digit sales growth in February.

After a strong January performance, automaker Mahindra & Mahindra reported more modest growth for February, with total auto sales growing by 19% against 32% in January.

Total CV sales for February came in at 20,946, a shade below the 21,002 reported in January. Its domestic sales, however, grew 8.43 per cent to 9,041 units against 8,338 units in the year-ago month.

Domestic sales in February 2018 were at 19,280 units, against 13,834 units during February 2017, up 39 per cent. "This performance comes on the back of a sustained momentum and demand, both in the personal and commercial vehicle segments, which we believe will also continue in the month of March", said Rajan Wadhera, president for the auto business at the company.

Auto stocks Eicher Motors (up 1.56 per cent), Exide Industries (up 1.13 per cent) and Mahindra & Mahindra (up 0.65 per cent) were trading up during afternoon trade on Thursday, buoyed by positive sale numbers in the month of February.

In two-wheeler segment, Bajaj Auto reported 31 percent jump in total sales at 3,57,883 units in February against 2,73,513 units in the same month a year ago. The company had sold 42,826 vehicles during the same month a year ago, M&M said in a statement today.

Hero MotoCorp reported a 20% increase in sales at 6,29,597 units in February 2018. The company had sold 15,007 units in the same month previous year.

Exports during the month grew 3 per cent to 1,203 units compared to 1,173 units in the year ago period. The company had sold 5,24,766 units in the corresponding month past year, Hero MotoCorp said.

Other reports by Iphone Fresh

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