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Passenger vehicles grow by 38%
Mumbai, December 1, 2012: Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today 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”.
Sales Summary November 2012
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Segment
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November2012
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November 2011
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YTD Nov FY13
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YTD Nov FY12
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MOM Nov FY 13 v Nov FY 12 Growth%
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YOY Growth (YTD Nov FY 13 to YTD FY12 growth %)
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Passenger Vehicles (UVs & Verito)
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24604
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17813
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180686
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137206
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38%
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32%
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4-wheelers Commercial (Passenger & Load)*
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14353
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13362
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113697
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96973
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7%
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17%
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3-wheelers
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6867
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5889
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44856
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45370
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17%
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-1%
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MNAL
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931
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1095
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7904
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8457
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-15%
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-7%
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DOMESTIC TOTAL
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46755
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38159
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347143
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288006
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23%
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21%
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M&M EXPORTS
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1388
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2563
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21701
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17673
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-46%
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23%
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MNAL Exports
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0
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0
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1
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0
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–
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–
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SECTOR TOTAL
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48143
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40722
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368845
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305679
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18%
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21%
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*Includes Maxximo, Gio, Genio & Bolero Pick up
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra also has a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A USD 15.9 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
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