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Can Mahindra Vibe hatchback launch strengthen company sales growth

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Automakers Mahindra & Mahindra’s domestic sales of passenger vehicles during the month of April 2013 increased 1% as it stood at 20,748 units as against 20,554 units sold during same month of previous year. These vehicles include Thar, Quanto, Scorpio, XUV500, Xylo, Bolero and Verito.

Total domestic sales amounted to 39,902 units in April 2013 as compared to 39,295 units in April 2012. In the four wheeler commercial segment, taking into account both passenger and load vehicles, the company sold 14,414 units, a growth of 10%, as compared to sales achieved in April 2012. In the three wheeler segment, M&M recorded sales of 4,036 units in April 2013. Exports increased to the tune of 8% as 1,530 units were exported by the company. Total sales during the month of April 2013 stood at 41,432 units as compared to 40,715 units in April 2012.

M&M however, remains optimistic of the future despite the fact that there is an additional 3% excise duty on SUVs since the Union budget announcement. The company is eagerly awaiting interest rate reduction which are expected from RBI next week. Launch of Verito Vibe, the sub 4 meter diesel hatchback is also eagerly awaited as it comes in to compete with Maruti Suzuki Swift and Hyundai i20 among others

Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We are extremely disappointed that the additional 3% excise duty on SUVs has not been reversed in the Finance Bill, which would have brought about some cheer and momentum for SUV makers and provided them with a level playing field. We remain cautiously optimistic of the current situation and do hope that with the much awaited and needed reduction in interest rates announcement by the RBI next week, the auto industry will look up. At Mahindra, we hope to create excitement with the launch of the Verito Vibe and other product variants”.