Mahindra’s Auto Sector sells 4,76,043 vehicles in FY-20

Mumbai: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for the financial year ended March 31, 2020, which stood at 4,76,043 vehicles, compared to 6,08,596 vehicles during FY-19.

For the month of March 2020 the company sold 7,401 vehicles (Domestic + Exports), as against 62,952 vehicles in March, 2019.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 3,384 vehicles in March 2020, compared to 27,646 vehicles in March 2019.

In the Commercial Vehicles segment, the company sold 2,325 vehicles in March 2020, as against 24,423 vehicles in March 2019.

Exports for March 2020 stood at 1,271 vehicles.

Commenting on the performance, Veejay Ram Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “Our performance in March has been muted on account of the impact of the current lock-down related to Covid-19 and the disruption in our BS VI ramp-up plan. The latter was planned between February and March but was affected due to the challenges of parts supply from global and local suppliers. We have been able to clear our BS IV inventory, but for fewer than 100 vehicles. However, there are many vehicles that are sold, but not yet registered because of the closure of RTOs.”