M&M shares surge 3% as June sales up 15% to 62,429 units

Shares of Mahindra & Mahindra (M&M) rose 3% after the company reported a 15% YoY increase in overall auto sales for June 2023. The utility vehicles segment saw domestic sales of 32,585 vehicles and overall sales of 33,986 vehicles, including exports. However, sales of SUVs were affected by disruptions in engine-related parts and constraints in the supply of specific parts. M&M’s domestic sales of small commercial vehicles stood at 19,798 vehicles. The company’s farm equipment sector also saw growth, with domestic tractor sales up 9% YoY.