Mahindra passenger vehicles 18% sales growth in November 2012

Following in the same stream of 28.74% increase in total sales in the month of October 2012 making it the highest ever month, Mahindra and…

Following in the same stream of 28.74% increase in total sales in the month of October 2012 making it the highest ever month, Mahindra and Mahindra, India’s major SUV manufacturers also witnessed an 18% increase in sales in the month of November 2012. The company sold 48,143 units in November 2012 while they sold 40,722 units in the same month in the previous year. Passenger vehicle sales increased by 38% to 24,604 units while domestic sales totaled 46,755 units during the month of November 2012 as compared to only 38,159 units sold in November 2011.

Exports also increased on similar lines and stood at 1,388 units during the month of November. Where Mahindra and Mahindra commercial 4 wheeler vehicle segment was concerned the company registered growth of 7% to 14,353 units while their sales in the 3 wheeler segment increased by 17% and stood t 6,867 units during the month of November.

The company is optimistic about their sales picture in the months ahead as they expect interest rates to reduce during the last quarter of the current financial year.

Speaking on the performance for the month¬†Pravin Shah, Chief Executive, Automotive Division,¬†Mahindra¬†&¬†Mahindra¬†said,¬†‚ÄúThe recently announced GDP numbers are in line with expectations and we do not foresee any immediate impact on the monetary policy. Till there is a decrease in interest rates for corporate or retail credits,¬†financing rates will remain high for auto customers which is a cause of concern. However we expect interest rates to reduce during the last quarter of the current financial year. We are happy to maintain our growth trend on the back of our portfolio of products especially the Quanto which has crossed more than 12,000 bookings in just over two months‚ÄĚ.

Sales Summary November 2012

   

Segment

November2012

November 2011

YTD Nov FY13

YTD Nov FY12

MOM Nov FY 13 v Nov FY 12 Growth%

YOY Growth (YTD Nov FY 13 to YTD FY12 growth %)

Passenger Vehicles (UVs & Verito)

24604

17813

180686

137206

38%

32%

4-wheelers Commercial (Passenger & Load)*

14353

13362

113697

96973

7%

17%

3-wheelers

6867

5889

44856

45370

17%

-1%

MNAL

931

1095

7904

8457

-15%

-7%

DOMESTIC TOTAL

46755

38159

347143

288006

23%

21%

M&M EXPORTS

1388

2563

21701

17673

-46%

23%

MNAL Exports

0

0

1

0

-

-

SECTOR TOTAL

48143

40722

368845

305679

18%

21%

 

 

 

 

 

 

 

*Includes Maxximo, Gio, Genio & Bolero Pick up