Mahindra’s Auto Sector registers sales growth of 14%

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M&M sales

Mahindra & Mahindra Ltd. (M&M Ltd.), India’s popular SUV manufacturer, today announced a 11% sales growth in its auto sales numbers which stood at 47824 units during February 2013 as against 43087 units during February 2012.

The Passenger Vehicles segment (which includes the UVs and Verito) registered a growth of 14%, having sold 23421 units in February 2013, as against 20573 units during February 2012.The company’s domestic sales stood at 44399 units during February 2013, as against 40461 units during February 2012, an increase of 10%.

The 4 wheeler commercial segment which includes the passenger and load vehicles registered a sale of 15167 units, while the 3 wheeler segment clocked 4803 units in February 2013. Exports for the month of February 2013 stood at 3425 units.

Speaking on the performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. commented, “We have a balanced budget from the Finance Minister that emphasizes inclusive and sustainable growth which we hope will bring the much needed positive sentiment for the economy, including the automotive industry. However, levying a 3% higher duty on SUVs on the basis of higher ground clearance is disappointing as it slows down further growth and does not provide equal competitive space to all players. Our February 2013 performance is reflective of the customers’ preference for our products, for which we thank them”

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