Home / Business and Economy / M&M Production Surges 19% on Strong SUV Demand
M&M Production Surges 19% on Strong SUV Demand
9 Oct
Summary
- Mahindra & Mahindra's production grew 19.23% year-on-year in September.
- Total sales increased 16.33% in September compared to the previous year.
- Company reaffirms mid-to-high teens growth expectations for SUVs.
Mahindra & Mahindra experienced a substantial 19.23% year-on-year production increase in September, manufacturing 1.22 lakh units. This rise is in contrast to the 1.02 lakh units produced in the same month last year.
Total sales for the company also showed strong performance, growing by 16.33% to 1.14 lakh units compared to the prior year. Exports contributed to this growth, increasing by 9.24% to 4,458 units in September.
Looking ahead, Mahindra & Mahindra maintains its positive outlook for sports utility vehicles (SUVs) and light commercial vehicles (LCVs). The company expects continued mid-to-high teens growth for SUVs and high single-digit growth for LCVs, aligning with earlier projections.
However, the tractor industry is anticipated to see moderated growth of around 5% for the financial year. This forecast is attributed to a higher base, delayed monsoon conditions, and reduced reservoir levels, suggesting a softening in tractor sales growth percentage.
The company's share price closed at ₹2,792 on the NSE on October 9, marking a 1.48% increase from its previous closing price.
