Mahindra & Mahindra records 11 per cent growth in February 2013

Monday 04 March 2013, 10:13 AM by

Mahindra and Mahindra (M&M) Limited, the country's largest utility vehicle manufacturer, has reported a 10.99 per cent surge in its total sales during February 2013 in the domestic passenger car market. As per reports, the company sold some 47,824 units last month as compared to sales of 43,087 units in the corresponding period of 2012 calendar year. The announcement came through a statement released by M&M. Further, the company's export business surged by 30.43 per cent as 3,425 units were shipped overseas during February 2013, as compared to 2,626 units exported in the year-ago period.

Mahindra & Mahindra records 11 per cent growth in February 2013 | CarTrade.com
Mahindra & Mahindra records 11 per cent growth in February 2013

Expressing his views on the company's take on the recently announced 2013-14 Union Budget and February sales performance, Pravin Shah, Chief Executive Officer (CEO), Automotive Division, Mahindra and Mahindra, was quoted as saying, “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 per cent 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.”

M&M, the country's favourite utility vehicle maker, has witnessed a 9.73 per cent increase in its domestic sales that stood at 44,399 units in February 2013, as compared to 40,461 units sold in the year-ago period. The combined sales of the company's Scorpio, XUV500, Bolero, Xylo, and Verito models has been reported at 23,421 units during last month, as against 20,573 units sold in February 2012, a sharp surge of 13.84 per cent. Further, M&M's three-wheeler vehicle division recorded a 6.03 per cent decline in sales at 4,803 units last month, from 5,111 units sold in February 2012.

Coming to the commercial vehicle division, the sales of Gio and Maxximo mini trucks and other four-wheelers climbed up by 12.17 per cent at 14,167 units last month, as against 13,522 units sold in February 2012. Mahindra Navistar Automotives Limited (MNAL), a part of $ 15 billion Mahindra Group, recorded a drop of 19.68 per cent in sales of commercial vehicles at 1,008 units in February 2013, from 1,255 units sold in the corresponding month last year.