HomeStock marketMahindra Scorpio-N ‘drives growth’, company reports 87 percent sales increase- Newslength

Mahindra Scorpio-N ‘drives growth’, company reports 87 percent sales increase- Newslength

Mahindra & Mahindra have reported a rise of their home passenger car gross sales of 87% to 29,852 items in August. In the identical month final yr, the corporate had offered 15,973 items, in accordance with M&M’s regulatory submitting. Within the reviewed month, 336 items of automobiles and vans have been offered, in comparison with 187 items within the corresponding month final yr. In line with the agency, 21,492 automobiles have been offered within the business car market in August 2022 in comparison with 8,814 items in the identical month earlier yr.

M&M President, Automotive Division Veejay Nakra stated the demand throughout the corporate’s portfolio remained sturdy and new launches resembling Scorpio-N, Scorpio Basic, and the brand new Bolero MaXX Pik-up additionally helped in driving progress.

“The supply chain situation continues to remain dynamic for select product lines, and we are taking appropriate actions to minimize impact,” he added. Within the tractors phase, M&M stated complete gross sales grew marginally to 21,520 items final month, as in comparison with 21,360 items in August 2021. Home tractor gross sales have been at 20,138 items towards 19,997 items within the year-ago month, whereas exports have been at 1,382 items final month, as towards 1,363 items in August 2021.

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“We are optimistic that tractor purchases on auspicious days in the festive season will lead to a revival in demand as farmers start preparation for harvesting operations. We are preparing for strong tractor demand in the festive season,” M&M President – Farm Gear Sector Hemant Sikka stated.

In the meantime, Mahindra can also be planning on launching its very new Mahindra XUV400 electrical SUV within the Indian market. The brand new electrical SUV from the automaker can be launched on world EV day that’s on September 9.  Upon launch, the SUV can be competing towards its personal varieties like Tata Nexon EV, MG ZS EV, and others in the same class.

With inputs from PTI



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