In the passenger car segment, in which Mahindra sells XUV500, Scorpio, Xylo, Quanto, Bolero, Thar and Verito, India’s leading SUV manufacturer registered an impressive 33% growth with sales of 26,555 units in January 2013 as opposed to 19,975 units during January 2012.
Total domestic sales stood at 47,841 units for Jan 2013, an 16% increase as opposed to the similar period last year which yielded sales of 41,369 units. Load vehicles and commercial vehicles categorized into the 4 wheeler commercial segment registered sales of 14,451 units while the 3 wheeler sector registered 5,811 units. Export sales were registered at 1662 units, as compared to 3,348 in Jan last year. Tractor sales too were down. Mahindra sold 16,402 units in the domestic market, compared to 17,950 sold last year. Total tractor sales, including exports, registered a 9.75% decline. Sales stood at 17,473, compared to 19,362 made in Jan 2012.
Apart from this, reduction in repurchase agreement and cash reserve ratio rates by 25 BPS have allowed for customers to buy their vehicles with ease. Improved finance options from banking institutions have also allowed for increase in sales of M&M vehicles during Jan 2013.