M&M October Sales: Total Sales Rise 26% To 1.2 Lakh Units
Mahindra & Mahindra Ltd. reported that its total sales rose 26% on the year to 1.2 lakh units in October. In the preceding month, the automobile manufacturer reported a 16% on-the-year increase in its total sales.
Total sales growth during the festive months of September and October stands at 27.4%, the company said in an exchange filing on Saturday. Mahindra & Mahindra Ltd. recorded festive period sales growth on the back of split of season in two months in the current year, according to exchange filing.
Domestic Passenger Vehicle Sales
Mahindra & Mahindra’s sales of domestic passengers vehicles grew 31% on the year to 71,624 units during October. This significant growth can be attributed to the increasing demand for passenger vehicles in the Indian market, driven by factors such as improving consumer sentiment and new product launches.
Domestic Commercial Vehicle Sales
Domestic commercial vehicle sales rose 14% to 31,741 units. This growth is a positive sign for the auto sector, which has been facing challenges in recent times.
Tractor Sales
Mahindra & Mahindra reported that its total tractor sales advanced 13% to 73,660 units. Meanwhile, exports of tractors grew 41% to 1,589 units in October. The growth in tractor sales is a good indicator of the rural economy and agricultural sector, which are critical components of the Indian economy.
Exports
Exports of Mahindra & Mahindra advanced 15% on the year to 4,015 units during October. This increase in exports is a positive sign for the company and the Indian economy as a whole.
Track live updates on October sales numbers here.
Key Highlights
- Total Tractor Sales At 73,660 Units Vs NDTV Profit Estimate Of 58,933 Units
- Total PV Sales At 73,890 Units Vs NDTV Profit Estimate Of 58,833 Units
Source: Exchange Filing
Previous Month’s Sales
Domestic Utility Vehicle sales up 10% at 56,233 units
Domestic CV Sales up 18% at 26,728 units
Total Sales up 16% at 1 lakh units
Total Exports up 43% at 4,320 units
Total Tractor Sales up 49% at 66,111 units
Total PV Sales up 10% at 56,233 units
Estimates vs Actuals
Tractor Sales At 66,111 units versus NDTV Profit Estimate Of 50,150 Units
Passenger Vehicle Sales At 56,233 Units versus NDTV Profit Estimate Of 56,400 Units
The actual sales numbers have been largely in line with estimates, which is a positive sign for the company and the stock market.
Conclusion
In conclusion, Mahindra & Mahindra’s October sales numbers have been strong, driven by growth in domestic passenger vehicles and tractor sales. The company’s exports have also shown significant growth, which is a positive sign for the Indian economy. As the auto sector continues to evolve, it will be interesting to see how Mahindra & Mahindra performs in the coming months.
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