M&M logs marginal growth in passenger, commercial vehicle sales

Chennai, Nov 2 (IANS) Utility vehicles major Mahindra and Mahindra Ltd (M&M) logged a marginal growth in its passenger and commercial vehicle sales in October due to increased export as compared to the numbers sold during October 2015.

In a filing with BSE, the company said it sold 52,008 units (domestic 48,729 units, exports 3,279 units) in October as against 51,383 units (48,815 units, exports 2,568 units) sold in October 2015.

Barring its strong point — the utility vehicles — M&M had logged negative sales in all other segments like passenger and commercial vehicles.

On the other hand the company’s tractor business logged 61 per cent growth.

In October, the company sold 45,177 tractors (domestic 43,826 units, exports 1,351 units) as against 28,081 units (domestic 27,280 units, exports 801 units) sold in October 2015.