Mahindra & Mahindra (M&M) reported sales in March at 40,403 vehicles, compared to 6,679 in March last year.
At Mahindra we are witnessing very good momentum in demand. Bolero volumes for March have been the highest in this financial year and despite supply constraints we have been able to ramp up production of the Bolero Pik-up significantly during the month. We expect supply challenges to remain for the next two to three months and then ease out gradually,” said Vijay Nakra, chief executive officer, automotive division at M&M.
The momentum of high numbers was also witnessed in the two-wheeler space with Hero Moto Corp, the largest two-wheeler maker, ringing up a growth rate of 72 per cent over the corresponding month in the previous year.
The company had sold 334,647 units in March 2020.
The recovery in consumer demand and efficient collaboration with our global distributors have enabled us to achieve these numbers. While the pandemic continues to impact the global auto industry, we are witnessing strong preference for wide range of motorcycles and scooters,” said Sanjay Bhan, head of global business at the firm.
However, executives and analysts warned the rising number of Covid cases, semiconductor shortages, and high fuel prices remained key challengers for the sales momentum to continue.
Our interaction with leading channel partners indicates demand sentiment across segments except two-wheelers remains unaffected, despite second concurrent lockdown in certain parts (of the country). However short supply both in CVs and PVs are impacting retails to an extent 20-25 per cent. Two-wheeler demand continues to remain weak, leading to further inventory increase,” analysts at Prabhudas Lilladher said in a research report.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.