Mahindra & Mahindra Ltd. has announced an 18 per cent rise in its auto sales, at 48,143 units, during November 2012 as against 40,722 units during November 2011. Domestic sales stood at 46,755 units during November 2012 against 38,159 units during November last year, an increase of 23 per cent. The passenger vehicles segment, which includes UVs and the Verito, registered a growth of 38 per cent, having sold 24,604 units as against 17,813 units.
The four-wheeler commercial vehicle segment which includes the passenger and load categories has registered a growth of seven per cent at 14,353 units, while the three-wheeler segment grew by 17 per cent at 6,867 units in November 2012. Exports stood at 1,388 units.
Commenting on the performance for the month, Mr. 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”.