M&M May auto sales up 28%, tractor sales flat

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 FLAT Tractor 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