Mahindra and Mahindra ltd. announced that its overall auto sales for the month of December 2022 stood at 56,667 vehicles making its shares rise by 1.28% pricing at ₹1265.50.
In the utility vehicles segment, Mahindra sold 28,333 vehicles in December 2022 while the passenger vehicles segment (which includes UVs, Cars, and Vans) sold 28,445 vehicles, up by 61% year on year from 17,722 units sold in December 2021.
According to Veejay Nakra, President of, the Automotive Division, M&M Ltd., “Continuing interest from our customers have led to strong demand across our portfolio in December 2022. We have seen the growth of 61 percent in our passenger vehicles and a 45 percent overall growth. Due to continuing international disruptions and increasing coronavirus cases, we are keeping a close watch on the dynamic supply chain situation.”
Mahindra and Mahindra also announced its Farm Equipment Sales number for December 2022. Total tractor sales (Domestic + Exports) during December 2022 were at 23,243 units, as against 18,269 units for the same period last year, that is December 2021.
Looking at the progress, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21,640 tractors in the domestic market during December 2022, a growth of 30 percent over last year. Rabi crop sowing has progressed very well and is higher than last year’s acreage and also higher than the average of the last 5 years. Wheat and oil seeds are expected to be bumper harvest. On the back of strong Rabi sowing, good kharif procurement, and likely exports of wheat, the sentiments continue to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements. In the exports market, we have sold 1,603 tractors, a growth of 1 percent over last year.”
