Mahindra & Mahindra Ltd. (M&M Ltd.), the country’s top sport utility vehicle maker, today posted a record high monthly automobile sales figure of 53438 vehicle units, symbolizing a 29 per cent increase as compared to the same period of 2011 during which M&M registered sales of 41506 vehicle units.
Mahindra & Mahindra Ltd‘s passenger vehicles also recorded record high sales, which remained at 26932 vehicle units during October 2012, an increase of 44 per cent as against the corresponding period last year.
The domestic sales of M&M Ltd remained at 51316 vehicle units in October 2012, as compared to 39352 vehicle units during October 2011, an augmentation of 30 per cent.
The company’s four-wheeler commercial section that comprises the passenger and load groups recorded a increase of 26 per cent, which stood at 16561 vehicle units.
Exports for the last month remained at 2122 vehicle units.
The fabrication of XUV500 has been augmented to 5000 units on a monthly basis beginning October 2012 that will assist in cutting down the waiting phase for one of the flagship products of Mahindra & Mahindra Ltd.
While talking over the performance, Mr. Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. stated that the decrease of 25 bps in CRR in the recently declared credit plan is an encouraging step. This however is not expected to bring about a reduction of rates of interest for business or retail credits and hence the existing rates of financing will still stay high for automobile business clients’ that is a cause of worry.
“We are grateful to our clientele whose back up and acceptance of all our newly rolled out products has been instrumental in attaining our record high monthly sales during October 2012,” Mr. Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd added up.