XUV300 lifts M&M February SUV sales by 16%

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M&M auto sales for Feb 2019

Mahindra & Mahindra received a much needed boost in February with the launch of the moderately priced XUV300 compact SUV.

The company, which had reported zero growth in its SUV sales in January, was able to post a jump of 3,372 in its total UV sales for the month of February.

Total UV sales jumped 16% in February to 24,349.

XUV300, priced in the Rs 8-9 lakh range, was opened for booking in late December, while sales started in the second half of February. The company had claimed a total booking of 4,000 plus at the time of launch.

“The month of February has augured well for Mahindra,” said Rajan Wadhera, head of M&M’s automotive sector.

“We have witnessed a strong double digit growth of 16% in our UV portfolio, on the back of our newly launched XUV300 model.”

However, overall numbers were impacted by poor offtake in the commercial vehicle division.

Total medium and heavy vehicle sales fell by 17% in February to 686 from 828 last year.

Similarly, light commercial vehicles above 3.5 tons saw a decline of 8% to 821.

Both three-wheeler and light-commercial vehicles below 3.5 tons posted growth. Three-wheeler sales, for example, jumped 10% on year.

The company did not break down the numbers to reveal the sales of electric vehicles.

However, total sales of cars and vans, which includes electric vehicles, rose 25% on year to 1,760 from 1,412.

Exports were up 16% at 3,090 during February.

Separately, the company’s tractor division witnessed a 7% fall in monthly sales to 18,105 units from 19,442 during February 2018.

Exports of tractors fell to 873 from 1,216.

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