M&M May auto sales up 28%, tractor sales flat
Utility vehicle maker Mahindra & Mahindra's total automobile sales in May rose 28% year-on-year to 43,988 units, helped by strong growth in its sports utility vehicles and four-wheeler commercial vehicles.
June 01, 2012 / 15:59 IST
Moneycontrol Bureau
Utility vehicle maker Mahindra & Mahindra's total automobile sales in May rose 28% year-on-year to 43,988 units, helped by strong growth in its sports utility vehicles and four-wheeler commercial vehicles. Domestic sales of the company, which makes the Scorpio, Bolero, Xylo and XUV 500 SUVs, were up 24% to 39,938 units, while exports jumped 87% to 4,050 units last month.M&M sold 21,154 passenger vehicles (UVs and Verito sedan) in May, compared with 16,702 units it sold a year ago.Its four-wheeler CV sales were up 33% to 13,254 units during the month. But its three-wheeler CV sales fell 4% to 4,320 units.TRACTOR SALES FLATTractor sales in India have hit a sharp slowdown in the last several months, and the same story played out in May. M&M, which is India's largest tractor manufacturer, sold 18,019 units in the domestic market, up just 0.4% year-on-year. Total tractor sales, including exports, rose 0.7% to 19,016 units last month.M&M shares were down 0.4% at Rs 650 in afternoon trade on NSE.Also Read: Maruti May sales slip 5% on falling mini car sales, exports Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
