New Delhi
Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor (TKM), on Friday reported a double digit growth in their domestic sales during November on yearly basis, as compared to the same month last year.
M&M recorded wholesales (dispatches to dealers) of 39,981 units during the month, a jump of 32 per cent YoY as compared with 30,392 units in November last year.
“We continue our growth trend, backed by strong demand for our SUV portfolio...While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges,” Veejay Nakra, President, Automotive Division, M&M, said.
Similarly, TKM said it registered domestic sales of 16,924 units in November reporting a growth of 44 per cent year-on-year (YoY), compared to the same month last year, where it had sold 11,765 units.
TKM also undertook a week-long maintenance shutdown from November 11-19, for upkeeping of machinery and equipment to sustain operational efficiencies, maintain quality and safety, it said in a statement.
The overall growth chart of TKM continues to gain momentum with cumulative sales for the Calendar Year (CY) 2023 reaching 2,10,497 units, thus reflecting a remarkable 40 per cent increase over the same period in 2022, where the sales were 1,49,995 units, it said.
“This is despite a weeklong scheduled halt as a part of maintenance to enhance future efficiencies and ensure quality of the highest standard. As a customer centric company, we ensured minimum impact on delivery by using contingent inventory to serve the pending and immediate requirements of our customers,” Atul Sood, Vice President of Sales and Strategic Marketing at TKM, said.
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In the two-wheeler segment, ‘Pulsar’ maker Bajaj Auto (BAL) reported domestic wholesales of 2,18,597 units during the month, a jump of 77 per cent YoY as compared with 1,23,657 units in the corresponding month last year.
In the commercial vehicle segment, BAL also reported a growth of 13.37 per cent YoY to 22,211 units during the month as against 19,591 units in the same month last year, the company said.
Similarly, M&M sold 39,147 units of commercial vehicles in November, a growth of 34 per cent YoY as compared with 29,226 units in the same month last year.
In the tractor segment, M&M reported a growth of six per cent YoY to 31,069 units in November as compared with 29,180 units in the corresponding month last year.
Escorts Kubota also reported a growth of 6.7 per cent YoY to 7,855 units in its tractor sales as compared with 7,359 units in the same month last year.