Mahindra and Mahindra Saw a 208% increase in May Auto Sales and 48% brilliant growth in the Tractor segment.

Mahindra & Mahindra is a leading utility vehicle manufacturing company that keeps making new growth records. Last month, it clocked a massive growth of 208% in selling utility vehicles to domestic customers. It also made record sales of tractors and achieved 48% YOY growth. It is mainly possible because there was a lockdown in one state to another last year due to the COVID-19 pandemic.

Because of these reasons, auto sales in May 2022 reached 53,726 by adding 17,447 vehicles compared to last year. M&M made 26,632 vehicle sales in the utility segment, 244% more than last year's same month. In passenger vehicles, including cars and vans, it sold 26,904 units in May 2022, and its 236% yearly growth.

If we talk about the commercial vehicle segment, this company generated 21,149 unit sales in May 2022 and got 192% yearly growth. The company said they saw sales increase in all light commercial vehicles (less than 2 tons), pickups (2 tons to 3.5 tons), and even heavy commercial vehicles; they saw massive growth.

Mahindra added that they have impressive bookings already in the pipeline. The company has announced the launch date of the new Scorpio-N, where Mahindra's customers can have a high level of interest and expectations to make it a blockbuster vehicle.

Mahindra and Mahindra recorded a new record of selling 48% more tractors in May 2022 against May 2021. It sold 35,722 tractors last month and 24,184 tractor sales last May. M&M said domestic sales of tractors in May 2022 were 34,153 against 22,843 units in May 2021.

Also, the company exported 1,569 unit tractors which were 1,341 last year. Hemant Sikka, the president of the Farm Equipment Sector, also said they saw 50% growth in domestic business, and before it, they achieved 51% growth in April.

He said there would be high demand for agricultural machinery because the farmers expect high remuneration for farm produce. It is because in the South-West the monsoon arrived timely, and the forecast also says normal monsoon to ensure record production in the Kharif crop. The farm product prices will be high to provide high income to farmers. Hence, they invest in farm equipment and machinery to improve crop output.