Mahindra & Mahindra’s Farm Equipment Sector, the world’s largest tractor manufacturer by volume and a part of the Mahindra Group, signed a memorandum of understanding (MoU) with the Jammu & Kashmir Bank to finance Mahindra’s range of tractors and farm machinery.
Mahindra & Mahindra (M&M) announced that its overall auto sales (passenger vehicles+commercial vehicles+exports) for the month of May 2021 stood at 17,447 vehicles.
Sequentially, the company s total auto sales declined 52.1% in May 2021 from 36,437 units sold in April 2021.
The passenger vehicles segment (which includes UVs, cars and vans) sold 8,004 vehicles in May 2021, up 107% YoY.
Total exports for May 2021 zoomed 300% to 1,935 units from 484 units in May 2020.
Veejay Nakra, CEO of automotive division of M&M said, We are seeing a strong growth momentum for our entire product portfolio. The Thar is clocking robust bookings, despite extended waiting periods. XUV300 has been a tremendous success and continues to see strong demand. Our power brands (Scorpio and Bolero) continue to do well. With the cases coming down and gradual opening up of markets, we foresee strong demand rebound. We are working closely with our supplier partners to manage supply chain issues and meet the mark