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M&M registers 18% growth in Auto Sales during November 2012

Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, announced a 18% rise in its auto sales numbers, which stood at 48143 units during November 2012 as against 40722 units during November 2011.

The company's domestic sales stood at 46755 units during November 2012, as against 38159 units during November 2011, an increase of 23%. The Passenger Vehicles segment (which includes the UVs and Verito) registered a growth of 38%, having sold 24604 units in November 2012, as against 17813 units during November 2011.

The 4 wheeler commercial segment which includes the passenger and load categories has registered a growth of 7% at 14353 units, while the 3 wheeler segment grew by 17% at 6867 units in November 2012. Exports for the month of November 2012 stood at 1388 units.

Speaking on the performance for the month Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra said, "The recently announced GDP numbers are in line with expectations and we do not foresee any immediate impact on the monetary policy. Till there is a decrease in interest rates for corporate or retail credits, financing rates will remain high for auto customers which is a cause of concern. However we expect interest rates to reduce during the last quarter of the current financial year. We are happy to maintain our growth trend on the back of our portfolio of products especially the Quanto which has crossed more than 12,000 bookings in just over two months".

Source: Equity Bulls

Posted On: 2012-12-01 10:15:42

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