Mahindra & Mahindra Reports 9% Increase in Total Wholesales for August

Mahindra & Mahindra announced a 9% year-on-year increase in total wholesales to 76,755 units for August. The company's domestic passenger vehicle sales rose by 16% while exports increased by 26%. Tractor sales also saw a minor growth of 1%. Factors like the festive season and favorable monsoon are expected to boost future tractor sales.

Mahindra & Mahindra announced on Monday that its total wholesales increased by 9% year-on-year to 76,755 units in August.

The Mumbai-based auto giant's domestic passenger vehicle sales saw a 16% rise, totalling 43,277 units compared to the same month last year. Exports surged by 26% to 3,060 units.

The company also reported that its total tractor sales for August rose by 1% to 21,917 units. According to Hemant Sikka, President of the Farm Equipment Sector, the upcoming festive season, an above-normal monsoon, and a bumper Kharif harvest will likely boost tractor industry growth.

(With inputs from agencies.)