Mahindra & Mahindra (M&M), the country's largest Utility Vehicle (UV) maker, came up with a 10 per cent surge in its total sales with figures standing at 48,342 units in the month of September 2012. In the corresponding period last year, the auto company managed to sell 44,137 units throughout the world.
Considering domestic sales of the company, M&M delivered 45,263 new vehicles during the period, which marked a growth of 10 per cent under the review of 41,136 units sold in year ago period. The passenger vehicle segment, including Verito and UVs, reported sales of 23,808 units, which reported an increase of 22 per cent against the sales of same tenure of last year, which stood at 19,447 units.
Exports of the company stood at 3,079 units, which registered a nominal increase as the figures in corresponding period of 2011 were 3,001 units. Expressing his views on the performance, the Chief Executive (Automotive Division) of the company, Pravin Shah quoted, “We are happy with the performance and growth that we have achieved during September 2012 over the festive season month of September 2011. We are hopeful of a good performance in the upcoming festive season.”
He later added that after reducing Cash Reserve Ratio (CRR), the banks are now looking ahead to cut the lending rates, which will be also applicable on auto loans.
