Mahindra posts 6% jump in December sales
New Delhi: Auto-maker Mahindra & Mahindra on Tuesday reported 5.92 percent increase in sales at 45,294 units in December.
The company had sold 42,761 units in the same month in 2011, Mahindra & Mahindra (M&M) said in a statement.
"High interest rates, rising fuel prices and an overall slowdown in economic growth has kept consumer sentiment low during 2012. This is also evident in the auto industry sales performance for December, which traditionally has been a lean month," M&M Chief Executive (Automotive Division) Pravin Shah said.
The company is happy to maintain its growth momentum even during these challenging times, he added.
In the domestic market, the company registered a 6.06 percent rise in sales to 42,307 units during the month compared to 39,891 units in the year-ago period, M&M said.
Total sales of passenger vehicles including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 22,761 units, as against 19,341 units in December 2011, translating into 17.68 percent increase.
The company said, however, sales of its three-wheelers declined by 9.31 percent to 5,209 units during December 2012 from 5,744 units in the same month previous year.
Sales of the company's Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles decreased marginally last month to 13,706 units from 13,757 units in the year-ago period, the statement said.
Commercial vehicle sales from Mahindra Navistar Automotives Ltd stood at 631 units during the month as against 1,049 units in the same month a year ago, a fall of 39.85 percent.
M&M's exports rose by 4.18 percent to 2,990 units during the month, from 2,870 units in December 2011.