Mahindra & Mahindra attains 70 pc surge in vehicle exports
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For the financial year ending March 2012, Mahindra & Mahindra Limited, the leading Indian multinational automaker has witnessed a drastic 70 percent surge in its vehicle exports and 16 percent hike in tractor exports. The exponential growth in exports has resulted from supplies made to Asia Pacific, Africa, USA and Australia.
The exports instantly swelled after the launch of its current hot selling sturdy compact SUV, Mahindra XUV500. The SUV has been positioned among the top ten SUVs in South Africa. The automaker entered into the African market in 2004 and since its inception, the sales recorded in the country is on a constant rising note at a tremendous rate.
In FY 2010-11, the automaker sold 1761 units in South Africa, which expanded to 2558 units in the last financial year. Bolero, Genio, Xylo, Scorpio and the newly launched XUV500 are the bestselling models of the company in the nation. During 2011-12, the exports of tractors in the country catapulted by 77 percent.
In the Asia-Pacific region, the exports intended by the company to Sri Lanka also showcased a substantial growth. The automaker supplied 2359 tractors to Bangladesh marking the highest export quantum till date. In the SAARC countries, highest ever exports of 1800 units was contributed by Mahindra Swaraj brand. The Cheetah inspired XUV500 also significantly raised the exports to the Australian continent.
For the U.S market, the auto manufacturer achieved two-fold growth in exports by crossing 10,000 units milestone. Recently, Mahindra & Mahindra stalled the pick-up truck development project based on Scorpio initiated for the U.S market owing to U.S regulatory and market situation.
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