Mahindra & Mahindra Domestic Sales Rise 1% In October, Shares Gain

Mahindra & Mahindra (M&M) on Monday reported a 1 per cent rise in domestic sales to 18,622 units last month, compared to 18,460 units in the corresponding period last year. The improvement in sales numbers comes at a time when the government is gradually easing the restrictions imposed to control the spread of coronavirus and ahead of the festival season. Mahindra & Mahindra shares gained nearly 1 per cent to ₹ 599.50 apiece on the BSE during the session.

“For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year,” said Veejay Nakra, chief executive officer-automotive division, M&M.

M&M reported a 3 per cent rise in overall auto sales, including passenger vehicles, commercial vehicles and exports, at 44,359 units in October 2020, compared to 51,896 units in October 2019.

Sales of utility vehicles grew by 3 per cent to 18,317 vehicles in October 2020, as against 17,785 vehicles in the same month last year.

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