Mahindra & Mahindra’s overall sale numbers during the last month (September 2012) surged 10% as against the same period of 2011 to 48,342 vehicle units.
Utility vehicle manufacturer’s September sales remained highest ever monthly sales, the company stated.
Whilst Indian sales zoomed 10% as against the year ago period to 45,263 units, exports remained up by 3% to 3,079 units in the month of September 2012.
Mahindra & Mahindra passenger vehicle sales, comprising utility vehicles and Verito sedan, remained up by 22% to 23,808 vehicle units and 4 wheeler commercial vehicle sales climbed by 7% to hit a mark of 14,417 units.
But, three-wheeler CV sales remained down by 17% to 6,048 vehicles during the last month.
MNAL, M&M’s partnership with US-based Navistar to market medium and heavy trucks, sold 990 vehicles in September 2012, up 2% as against the same period of 2011.
For the period of April-September 2012, the company’s overall sales surged 20% to 2,67,266 units.
Diminution in cash reserve ratio (CRR) by the central banking institution of India and decrease in lending rates by a few banking institutions has pushed up outlooks.
Mr. Pravin Shah, chief executive, automotive division made this declaration and he anticipates demand to lift up during the festival period.
Mahindra & Mahindra has witnessed sturdy demand for its XUV 500 sports utility vehicle that at the present has a waiting phase of about 6 to 15 weeks. It has also pocketed 3,200 bookings for the newly launched Quanto since it was introduced in September 2012.
In the meantime, the company will also accompany the steps of other automobile manufacturers and hike rates this month. An increase in the vehicle rates by around 0.5-1.5% is expected in the coming days.
The slowness in tractor market carried on during the last month.
Mahindra & Mahindra, which is the top tractor manufacturer in the country, witnessed its sales decline 19% year-on-year to 20,085 vehicle units during the past month.
The company’s Indian tractor sales dropped 20% to 18,908 vehicles during the last month and it exported 1,177 tractors as against 1,165 units it sold a year back.