Buy / Sell M&M share
Mahindra is seeing a big volume upsurge due to the sales of Thar, XUV700 and Scorpio N and the company claims that by this parameter it is the number one SUV maker in the country.
Speaking to CNBC-TV18 after reporting an in-line set of numbers for the first quarter, Anish Shah, MD and CEO of the company said that the company's strategy is to solidify its position as the largest SUV maker in India and bring out a strong set of electric products.
“Auto has a very different trajectory right now because that is driven by 3 blockbuster launches and 2 launches before that that were very strong as well. So we have got 5 in a row now. And with the volumes that we are seeing in Thar, XUV700 and the Scorpio, we have got just tremendous runway,” he said.
Mahindra & Mahindra (M&M) on Friday, August 5, reported a 66.7 percent jump in its revenue at Rs 19,613 crore for the April-June period, on a year-on-year basis, thus meeting street estimates.
“In terms of our strategy, for the auto business, it is to solidify our position as the number one sports utility vehicle (SUV) maker in India, to come up with a very strong set of electric products because that is going to be a big part of the future and continue to maintain the high-quality products that we have today,” he said.
The company also recorded the highest quarterly revenue for auto and farm segments; the tractor business market share was up 0.9 percent year-on-year at 42.7 percent.
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