Mahindra Auto records highest ever SUV sales in October

MUMBAI MUMBAI: Leading domestic automobile maker Mahindra & Mahindra Ltd on Friday said its total auto sales in October stood at 96,648 vehicles, including exports, a growth of 20 per cent over last year.In the utility vehicles (SUV) segment, the automaker sold 54,504 vehicles in the domestic market, a growth of 25 per cent, and overall sold 55,571 vehicles including exports.Domestic sales of commercial vehicles stood at 28,812, the company said.

“We are excited to report highest ever SUV sales of 54,504 vehicles in October and highest ever sales of 96,648 vehicles, a growth of 20 per cent,” said Veejay Nakra, President, Automotive Division, M&M Ltd. Commercial vehicle sales, including three-wheelers, grew 5 per cent over last year to 9,826 units as against 9,402 units in the year-ago period, the company said. “The month started on a strong note with Thar Rocks garnering 1.7 lakh bookings in the first 60 minutes and the positive momentum in the SUV portfolio continuing during the festive season,” he added.

In September, the automaker said its total auto sales stood at 87,839 vehicles, including exports, which is a 16 per cent growth (year-on-year). In the month of September, the automaker exported 3,027 vehicles, a 25 per cent year-on-year growth from 2,419 vehicles last year. With private consumption rising across the country, auto loans for car ownership have surged as people in tier 2, 3 cities and beyond opt for longer-term financing options to buy the latest vehicle. Nearly 80 per cent car purchases in the country are financed through bank loans or non-banking financial companies (NBFCs).