M&M registers 22 per cent growth in automotive sales in August 2012

Mahindra and Mahindra Limited (M&M), the country's largest Sports Utility Vehicle (SUV) maker, revealed a 22 per cent growth in its vehicle sales figures in Mumbai on September 1, 2012. In August 2012, M&M recorded total sales of 45,836 vehicles against 37,684 vehicles sold during the same month last year.

M&M witnessed a 20 per cent surge in domestic market sales, which were recorded at 42,826 vehicles in August 2012. The sales registered during the same month last year stood at 35,756 vehicles. Reportedly, M&M saw most of its growth in the passenger vehicle segment (comprising Utility Vehicles (UV) and Verito sedan) at 39 per cent with 21,831 vehicles being sold in the month of August 2012, registering a sharp rise from 15,664 vehicles sold in the same period last year. The company's export business also grew by 56 per cent.

Elated by the sales recorded in August 2012, Pravin Shah, Chief Executive, Automotive Division, M&M said, “Considering the challenging external environment, we are happy to have achieved a growth of 22% . Our New Look Verito has evoked a positive response of having crossed the 2000 plus units sales mark during August 2012. The overall sentiments for the auto industry are low which could benefit from a relief in interest rates, to boost sales. At Mahindra we continue to remain cautious and watchful of the situation.”

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