Another Indian automaker that registered a double digit growth in FY19 is Mahindra & Mahindra. Its sales performance stood at 6,08,596 vehicles, compared to 5,49,153 vehicles during FY18, registering a growth of 11%. The overall growth includes exports of 38,595 vehicles compared to 28,221 units in FY18, registering a growth of 37%.
As for March 2019 sales, the company sold 62,952 vehicles – a marginal growth over March 2018. The domestic sales touched 59,012 vehicles during March 2019, as against 58,652 vehicles in March 2018. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 27,646 vehicles in March 2019, registering a growth of 4%.
In the Commercial Vehicles segment, the company sold 24,423 vehicles in March 2019, as against 25,495 vehicles in March 2018. In the Medium and Heavy Commercial Vehicles segment, M&M sold 917 vehicles for the month. Exports for March 2019 stood at 3,940 vehicles – a growth of 15%.
“We have closed FY19 with robust double digit growth of 11% at an overall level, despite strong headwinds faced by the Indian automotive industry this year. This growth has been supported by our three new product launches, which have been well received in the market,” said Rajan Wadhera, President, Automotive Sector, M&M Ltd.