Mahindra & Mahindra , India’s leading SUV maker, announced a rise of about 18 percent in its sales figure, which now stood at 48,143 units during the November 2012 as against the 40,722 units sold in the same period during 2011. The company’s domestic sales figure stands at 46,755 units during November 2012 in comparison to the 38,159 units in November last year, an increase of about 23%. The passenger vehicle segment that comprises of Verito and UVs recorded a growth of about 38 percent, with the sale of about 24,604 units in Nov 2012 against the 17,813 units last year during the same period.
The 4-wheeler segment that includes the load and passenger categories of vehicles have registered a growth of about 7 percent with the sale of about 14,353 units while the three wheeler segment saw a growth of about 17 percent with the sale of about 6867 units. The export figures stood at about 1388 units. Chief Executive of Automotive Division, Mahindra & Mahindra said that the recent announced GDP no. are in accordance with the speculations and company is not seeing any immediate impact on the monetary policy.
Until there is a decrease in the interest rates for the retail credits, financing rate will remain high for the auto customers. This is a cause of concern but company is expecting to interest the rates to go down during the current financial year. Mahindra is happy to maintain the growth trend on the base of their strong product lineup. Mahindra & Mahindra is currently relying mostly on the sales of Quanto which has already crossed more than 12,000 bookings in just over 2 months of its launch.