Mahindra’s Auto Sector sells 50,558 units during October 2013

Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced its auto sales numbers which stood at 50,558 units during October 2013.

The Passenger Vehicles segment (which includes UVs and Verito) sold 22,924 units in October 2013, as against 26,932 units during October 2012. The company’s domestic sales stood at 47,787 units during October 2013, as against 51,316 units during October 2012. The 4-wheelers commercial segment had a marginal growth, at 17,362 units while the 3-wheelers segment clocked 6,999 units in October 2013. Exports for the month grew by 31% at 2,771 units in October 2013.

It is noteworthy that the auto sector of the company has recorded a growth of 17% in October 2013 over its September 2013 sales.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “During such tough and challenging times, we are heartened with our performance in October 2013 which has grown by 17% over the last month. In spite of new launches, the auto sector has witnessed a de-growth of nearly 5% during the first half of FY 2013-14 and the recent repo rate hike may prove to be a dampener for potential customers. The auto industry continues to look forward to an immediate support in terms of a stimulus package to perk it up as well as bring back the growth momentum for the economy in general & automotive sector in particular“.

Sales Summary October 2013

 *Includes Maxximo, Gio, Genio & Bolero Pick up