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Mahindra and Mahindra register 22% sales increase in August 2012: 42826 units sold in Indian auto market

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Sales figures during the month of August 2012 rose by 22% for Mahindra and Mahindra, India. Sales during the month stood at 45,836 units as compared to 37,684 units in the same month in the previous year. Domestic sales and Exports for the month of August 2012 were encouraging with domestic sales rising 20% at 42,826 units as compared to 35,756 units in August 2011. Sales of the M%M SUVs and Verito increased by 39% and stood at 21,831 units in August 2012 while in August 2011 this figure was at 15,664 units. Exports on the other hand increased by 56.12% to 3,010 units as compared to 1,928 units in August 2011.

August 2012 proved successful for the company despite challenging conditions, rising fuel prices and escalating interest rates. New Look Verito is what has caused much excitement in the market with sales crossing 2000 unit mark during past month.

Where four wheeler commercial vehicles were concerned M&M registered growth of 20% to 14,267 units while sales of three wheeler commercial vehicles declined by 3% to 6,004 units. Sales of M&M trucks sold through their Mahindra Navistar joint venture also saw a decline by 2% to 724 units during the month of August 2012.

India auto new release: Mahindra’s Auto Sector registers 22% growth during August 2012

Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced a 22% rise in its auto sales numbers, which stood at 45836 units during August 2012 as against 37684 units during August 2011.

The company’s domestic sales stood at 42826 units during August 2012, as against 35756 units during August 2011, an increase of 20%. The Passenger Vehicles segment (which includes the UVs and Verito) has registered a growth of 39%, having sold 21831 units in August 2012, as against 15664 units during August 2011. Exports have also grown by 56%.

Speaking on the performance for the month of August’ 12 , Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “Considering the challenging external environment, we are happy to have achieved a growth of 22% . Our New Look Verito has evoked a positive response of having crossed the 2000 plus units sales mark during August 2012. The overall sentiments for the auto industry are low which could benefit from a relief in interest rates, to boost sales. At Mahindra we continue to remain cautious and watchful of the situation”.

Sales Summary August 2012

     
Segment August 2012 August 2011 YTD August FY13 YTD August FY12 MOM Growth% YOY Growth %
Passenger Vehicles (UVs & Verito) 21831 15664 105346 81190 39% 30%
4-wheelers Commercial (Passenger & Load)* 14267 12563 68366 57091 14% 20%
3-wheelers 6004 6394 24968 25847 -6% -3%
MNAL 724 1135 5133 5231 -36% -2%
             
DOMESTIC TOTAL 42826 35756 203813 169359 20% 20%
M&M EXPORTS 3010 1928 15111 9955 56% 52%
SECTOR TOTAL 45836 37684 218924 179314 22% 22%

*Includes Maxximo, Gio, Genio & Bolero Pick up