Mahindra Vibe launch should strengthen M&M 5% sales increase in May 2013
Mahindra & Mahindra total sales in May 2013, dropped by 1.2% to stand at 43,460 units. May 2012 sales were at 43,989 units. Domestic sales were however more positive, up 5.4% at 42,104 units in May 2013 as compared to 39,938 units sold during May 2012.
During the month of May 2013, M&M sales of passenger vehicles saw 22,244 units of Scorpio, XUV 500, Xylo, Bolero and Verito being sold as compared to 21,154 units sold in May 2012.This resulted in an increase of 5.15%. Sales of commercial vehicles were also up 12% as total sales stood at 14,848 units which also included that of Gio and Maxximo mini trucks.
Three wheeler sales during the month of May were however not upto expectations which saw a decline of 7% from 4,320 units sold in May 2012 to 4,028 units in May 2013. While sales of commercial vehicles sold by Mahindra Navistar Automotives Ltd saw a decline to the tune of 19% during the month of May 2013. Sales stood at 984 units as compared to 1,210 units in May 2012. Exports also dipped 67% from 4,051 units in May 2012 5o 1,356 units in May 2013. The company looks ahead to new product launches in the near future which are sure to bring the company back on track.
Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We have achieved an overall growth of 5% in our domestic volumes during May 2013 for our automotive sector, in spite of a challenging environment. The growth in capital investment and private spending have also slowed down which is a cause for concern. At Mahindra we remain cautiously optimistic of the situation and do hope that on the back of the new product launches, the auto industry will rev up sooner than later”.