Mahindra & Mahindra's Impressive Sales Surge in May

Mahindra & Mahindra, a leading player in the automotive sector, announced a remarkable 17% increase in total sales for May, totaling 84,110 units. The utility vehicles segment experienced substantial growth, with domestic sales reaching 52,431 units – a 21% rise compared to the same month last year.

In the company's tractor division, domestic sales climbed to 38,914 units, up from 35,237 units in May 2024. This trend continued in the combined domestic and export market, where sales hit 40,643 units, significantly surpassing last year's figure of 37,109 units.

The looming advance of the above-normal Southwest monsoon, coupled with government policies such as the approval of an MSP hike for kharif crops, should boost farmer confidence and potentially increase tractor demand, according to Veejay Nakra, President of M&M's Farm Equipment Business.

(With inputs from agencies.)