August 13, 2022

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M&M sells 39,157 automobile units in December

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Mahindra & Mahindra’s total automobile sales for the month of December 2021 stood at 39,157 cars, up by 11% from 35,187 automobiles marketed in December 2020.

The passenger vehicles segment (which features UVs, Vehicles and Vans) offered 17,722 cars in December 2021.
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In the professional autos segment, Mahindra bought 15,938 automobiles in December 2021 with advancement of 14%.

Exports for the month of December 2021 have been at 3,017 motor vehicles.

Veejay Nakra, main govt officer, Automotive Division, M&M, reported, We are glad to report an total advancement of 11% in December 2021. We have observed progress in company segments like passenger autos, professional motor vehicles and worldwide functions, owing to continued sturdy demand from customers throughout the solution portfolio. The problems all around semi-conductor related elements go on to be a challenge for the business and remains a main aim space for us.

M&M’s Farm Gear Sector (FES) offered 18,269 tractors in December 2021, down by 19% as opposed with 22,417 tractors bought in December 2020.

Though domestic tractor gross sales fell 21% to 16,687 units, tractor exports greater 27% to 1,582 models in December 2021 about December 2020.

Hemant Sikka, president – Farm Products Sector, Mahindra & Mahindra, stated, De advancement in December has been on account of a blend of aspects, like higher foundation of past year and the two delayed and quite weighty rainfall in some geographies.

We anticipate momentum to get better in the coming months on account of fantastic development of Kharif procurement bringing liquidity in the hands of farmers and Rabi acreage showing symptoms of development above final 12 months.

M&M Group enjoys a leadership placement in farm tools, utility motor vehicles, info know-how and economical services in India. It is the world’s biggest tractor company by quantity. It has a sturdy existence in renewable electricity, agriculture, logistics, hospitality and serious estate.

On a consolidated basis, the M&M Group’s internet earnings just before exceptional things rose 43% 12 months-on-year to Rs 1,975 crore in Q2 September 2021. The Group’s web profit immediately after modifying for extraordinary objects surged 214% YoY to Rs 1,929 crore in Q2 September 2021. Profits rose 12% to Rs 21,470 crore all through the time period less than evaluate.

The scrip included .87% to end at Rs 837.30 on the BSE on Friday.

Run by Money Current market – Dwell News

(This tale has not been edited by Company Common staff members and is vehicle-created from a syndicated feed.)

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