Mahindra & Mahindra posts 11% jump in March sales
New Delhi: Auto-maker Mahindra & Mahindra Monday reported 10.62 percent increase in its total sales at 51,904 units in March 2013.
The company had sold 46,919 units in the same month in 2012.
For the entire 2012-13 financial year, the Mumbai-based utility vehicle major registered a rise of 16.60 percent in its total sales at 5,63,373 units compared to 4,83,164 units in the previous fiscal, Mahindra & Mahindra (M&M) said in a statement.
"We are happy to have crossed the half a million sales mark for the first time, during 2012-13, given the challenges and the pressures the auto industry is currently facing," M&M Chief Executive (Automotive Division) Pravin Shah said.
The company hopes to create excitement in the market during 2013-14, especially with the launch of its sub-four metre Verito and other offerings, he added.
In March this year, M&M's domestic sales stood at 49,225 units as against 44,260 units in the same month last year, up 11.22 percent.
Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 25,847 units as against 22,961 units in March 2012, translating into 12.57 percent increase.
The company, however, said sales of its three-wheelers declined by 5.07 percent to 4,831 units during March, 2013 from 5,089 units in the same month last year.
Sales of the company's Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles went up by 17.12 percent last month to 17,212 units from 14,696 units in the year-ago period, the statement said.
Commercial vehicle sales from Mahindra Navistar Automotives Ltd stood at 1,335 units during the month as against 1,514 units in the same month a year ago, a fall of 11.82 percent.
M&M's exports rose marginally to 2,679 units during the month from 2,659 units in March 2012.
In 2012-13, the company's domestic sales went up by 16.94 percent to 5,30,915 units from 4,53,987 units in FY'12.
Exports of the company in last fiscal rose by 11.25 percent to 32,457 units from 29,176 units in the previous fiscal, the statement said.