Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced its auto sales numbers which stood at 51,636 units during March 2014.
The Passenger Vehicles segment (inclusive of UVs and Verito) posted sales of 23,433 units in March 2014, against the 25,847 units sold during March 2013. The company’s domestic sales affirmed the statement at 48,490 units during last month of FY-2014, as against 49,225 units over the same period of last year. The 4-wheelers commercial segment sold 17,649 units, while the 3-wheelers segment rated 6,305 units during the last month. Exports for the month stood at 3,146 units which represents a growth of 17%.
The company ended Financial Year 2013-14, with a sales figure of 5,07,176 units as against 5,63,373 units in FY 2012-13.
Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “Post the reduction in the excise duty across all segments, the auto industry has seen the level of inquiry going up, but has not witnessed any major surge in sales. We do hope that the sentiments improve and change post the national elections, leading to an increase in demand as well. At Mahindra, we are happy with our overall performance for the month of March where the de-growth is negligible at 0.5%. Going forward, we continue to be optimistic for the future and expect to witness a growth momentum during FY 2014-15.”