Mahindra & Mahindra today declared its overall auto sales for the month of December 2020. It sold a total of 35,187 units for December 2020 whereas, for December 2019, it sold about 39,230 units.
In the utility vehicles category for December 2020, it recorded 16,050 units of sale whereas for December 2019 it accounted for 15,225 units which is about a 5% change. In the car+vans category, Mahindra & Mahindra reported 132 units of sales in December 2020 whereas for December 2019 it sold 466 units. And overall in the passenger vehicle category i.e. including both Utility vehicles and cars+vans, it sold 16182 units for December 2020 meanwhile it sold 15691 units in December 2019 which is around 3% increase.
Mahindra & Mahindra’s Farm Equipment Sector also reported an increase in 23% of the sales for December 2020 when compared to December 2019. For the tractor sales, Mahindra & Mahindra recorded 22,427 units of sales for the month of December 2020 including both domestic and exports whereas for the month of December 2019 it was 17,991 units.
The recently launched Mahindra Thar has already been a huge success. The demand is so high for this SUV in the market that currently, the Mahindra Thar is booked till May 2021. In fact, Mahindra is trying to increase the production to 3,000 units of Thar which more than what it is capable of. The brand is also planning to launch the new generation XUV500 in 2021 and it is expected that it will be loaded with all the latest features like RADAR system, Advanced Driver Assistance System, lane-keeping assist, autonomous emergency braking and more.
Yesterday, Mahindra and Ford announced that they would not be going ahead with their joint venture which they had announced on 1st October 2019. This venture was set up to build cars for the India market and export to the other emerging market across the world. But, now the pandemic had caused a lot of damage to the finances which made both of the companies to reassess their capital allocation and decided to call off the venture.