PV drags M&M's Feb sales 3%, but CV grows 18%; tractor up 11%

Even as Mahindra and Mahindra (M&M) reported a fall in total sales and passenger vehicle sales, its commercial vehicle and tractor segment posted a whopping 18 percent and 11 percent gain year-on-year (YoY), respectively. Total sales fell 2.9 percent to 42,714 against 44,022 units during the same period last year. Simultaneously, total exports to fell 13 percent at 2,300 units against 2,654 units YoY. Tractor exports, on the other hand, grew 35 percent at 1,173 units against 872 units YoY. Passenger vehicle sales fell to 20,605 units, a fall of 13 percent against last year’s 23,718 units.However, what stood out for the firm was its commercial vehicle sales. It grew 18 percent at 16,383 units against 13,864 units YoY. Along with it, tractor sales also grew 11 percent at 15,007 units against 13,574 units YoY. Domestic tractor sales was recorded at 13,834 units against 12,702 units YoY. The management observed positive trends emerging in the market over the past two months. It is also said to be gearing up its supply chain so that there is no strain to meet new emission norms.