Companies are expecting an increase in sales from the upcoming festivals.
Domestic automobile companies Bajaj Auto and Mahindra & Mahindra sold vehicles well in the month of August. Motor vehicle manufacturer Bajaj Auto’s total wholesale sales including exports in August grew 16 per cent year-on-year to 3,97,804 units. The company’s total wholesale sales stood at 3,41,648 units in August 2023. According to the news of Bhasha, Bajaj Auto said in a statement that total domestic sales (including commercial vehicles) grew 24 per cent to 2,53,827 units in August, as against 2,05,100 units in the same month last year.
Mahindra & Mahindra’s total wholesale sales in August
According to the news, the statement said that Bajaj Auto’s total exports grew by five per cent to 1,43,977 units in the month under review, as against 1,36,548 units in August 2023. Apart from this, Mahindra & Mahindra’s total wholesale sales in August grew by nine per cent year-on-year to 76,755 units. The automotive manufacturer’s wholesale sales stood at 70,350 units in August 2023. Mahindra & Mahindra said in the statement, “Sales in the domestic market grew 16 per cent to 43,277 units last month as against 37,270 units in August last year.”
Mahindra & Mahindra Exports
Mahindra & Mahindra’s total exports grew 26 per cent to 3,060 units in August as against 2,423 units in the same month a year ago. According to M&M, its total tractor sales in August grew one per cent year-on-year to 21,917 units from 21,676 units in August 2023. Mahindra & Mahindra President (Agricultural Equipment Sector) Hemant Sikka said that the upcoming festivals, better than normal monsoon, good Kharif crop and favourable trade terms for farmers are likely to boost the growth of the tractor industry. Earlier, the sales figures of the country’s largest car company Maruti Suzuki showed that the company’s sales have declined. Auto companies have high hopes from the upcoming festival season.
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