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Sany Bharat Signs MoU with Union Bank of India : Rashtra News With an aim to make equipment financing an easy, efficient, and simple process, Sany Bharat recently signed a Memorandum of Understanding (MoU) with Union Bank of India. As per the agreement, the network of Union Bank will extend equipment finance to customers of
Swaraj Tractors: With this new tractor range the company is readying the brand for the future needs of the agriculture sector which holds huge potential for mechanisation. Though the Indian agriculture is tractorized it is yet to be fully mechanised, the company said.
Passenger Vehicles: As per industry estimates, PV wholesales stood at 3.27 lakh units in June this year, growing about 2% against 3.21 lakh units in June last year. However, the industry witnessed about 2% decline on a sequential basis, when compared to 3.35 lakh units dispatched in May 2023.
Shares of Mahindra & Mahindra (M&M) rose 3% after the company reported a 15% YoY increase in overall auto sales for June 2023. The utility vehicles segment saw domestic sales of 32,585 vehicles and overall sales of 33,986 vehicles, including exports. However, sales of SUVs were affected by disruptions in engine-related parts and constraints in the supply of specific parts. M&M's domestic sales of small commercial vehicles stood at 19,798 vehicles. The company's farm equipment sector also saw growth, with domestic tractor sales up 9% YoY.
Three-wheeler sales were also up by 59% and reached 6,377 units in June 2023 from 4,008 units in June 2022