Mahindra Auto Achieves Record-High SUV Sales in October, Overall Growth Rises by 20%

Mahindra & Mahindra Ltd, the leading domestic automobile manufacturer, said on Friday that its overall auto sales for the month of September stood at 96,648 vehicles, including exports, which is a 20 per cent year-on-year growth.

In the utility vehicles (SUV) segment, the automaker sold 54,504 vehicles in the domestic market, a growth of 25 per cent and overall, 55,571 vehicles, including exports.

Commercial vehicles: Home sales stand at 28,812

"We have clocked the highest ever SUV sales at 54,504 in October - a growth of 25 per cent - and highest-ever total volume at 96,648 with 20 percent growth, as per recent data by M&M. We are ecstatic that our journey has helped clock such good numbers. - Veejay Nakra, President, Automotive Division, M&M Ltd.

Sales in the three-wheelers and commercial vehicles business rose 5 per cent on-year to 9,826 units against 9,402 units last year, the company said.
"The month started off well with Thar ROXX clocking 1.7 lakh bookings in the first 60 mins of the launch and this positivity continued across the SUV range during the festive period," said the CEO.

In September, the automaker said its total auto sales stood at 87,839 vehicles, including exports, which represented a 16 per cent growth year-on-year. In the month of September, the automaker exported 3,027 vehicles, a 25 percent YoY growth from 2,419 vehicles last year.

Auto loan demand has picked up fast as private consumption, while on the rise all across the country, takes advantage of the longer tenure lending models for car purchases offered with all the latest models as demand continues to go on without restraint. About 80 percent of car sales across India are financed by taking NBFC or bank loans.