Mumbai: Automaker Mahindra and Mahindra Ltd on Monday said passenger vehicles sales in July rose 20% from a year ago to touch 17,356 units, led by sales of new models such as the KUV100 and TUV300. Total domestic sales also rose 14% to 35,505 units in the same period, the utility vehicles and tractor market leader said.
Pravin Shah, president and chief executive, Mahindra and Mahindra said in statement, “The advent of a good monsoon so far has brought in positive sentiment for the economy and that is somewhat reflected in our performance. At Mahindra, our growth is being driven by the various product launches of the last financial year, which have been in sync with customers’ requirements.”
Helped by better sentiments in rural India and improved sowing, tractor sales rose as well, gaining 15% from a year ago to 16,452 units. “With normal rainfall and its improved spread across in India in the month of July, Kharif sowing has been more than last year. We hope for an improved agricultural output and tractor demand in the near future,” said Rajesh Jejurikar, president and chief executive, tractor and farm equipment division at Mahindra and Mahindra.