M&M’s arm SsangYong Motor sells 10,222 units in November 2014

Mahindra & Mahindra Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 500520 | NSE: M&M

08 Dec 2014 Evaluate

Mahindra and Mahindra’s (M&M) South Korean subsidiary SsangYong Motor has sold a total of 10,222 units in November 2014 - 5,806 units in domestic sales and 4,416 in exports including CKD kits. Despite the continuous sales uptrend in the domestic market, its global sales decreased by 27.5% year-on-year due to reduced shipments to its main export markets affected by the strong won.

The company’s domestic sales continued to show strong growth by posting a rise of 6.4% in November from the previous month and 5.9% for the first 11 months over the same period last year, backed by increasing sales of main models. However, the company’s monthly exports which had been on the recovery path dropped by 41.5% from a year earlier due to reduced shipments to main markets amid the Ukraine crisis, and its cumulative exports slightly declined by 10.3% year-on-year despite the effort of diversification of export markets.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.