Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has reported 14% growth in overall auto sales at 61,415 units in May 2023 as compared to overall auto sales of 53726 units in May 2022. The company has reported a 22 per cent increase in passenger vehicle sales at 32,886 units in May 2023, as compared to the same month last year. The company had posted a total passenger vehicle sales of 26,904 units in May 2022. Utility vehicles sales last month were at 32,883 units, as against 26,632 units in the year-ago period, a growth of 23 per cent. Sales of cars and vans were at 3 units as compared to 272 units in May last year. 

In the farm equipment sector, the company’s total tractor sales were at 34,126 units as compared to 35,722 units in May last year, down 4 per cent. Domestic tractor sales declined 3 per cent at 33,113 units as compared to 34,153 units in the same month a year ago. Tractor exports were also down 35 per cent at 1,013 units from 1,569 units in May 2022.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.