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 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, “The 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”.
Sales Summary November 2012
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)|
|4-wheelers Commercial (Passenger & Load)*|
*Includes Maxximo, Gio, Genio & Bolero Pick up