Mahindra’s Auto Sector registers 34% growth in Karnataka in May 2011
The Verito sedan grows by three-folds in the state
Bangalore, June 14, 2011: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $12.5 billion Mahindra Group, today announced a 34% rise in its auto sales numbers in Karnataka, which stood at 1527 units during May 2011 as against 1141 units during May 2010.
The Verito sedan registered a strong growth of three-folds, having clocked 129 units in May 2011, as against 35 units in May 2010.
The Passenger Vehicles segment (which includes the UVs as well as the newly launched Verito) registered a growth of 20%, having sold 734 units in May 2011, as against 613 units during May 2010. The 4 wheeler commercial segment which includes the passenger and load categories has registered a growth of 36% while the 3 wheelers have registered a strong growth of 90%.
Speaking on the Karnataka sales numbers, Atul Sinha, General Manager - Sales, South Zone, Automotive Division, Mahindra & Mahindra Ltd. said, “Karnataka is one of our most important markets and we are happy with the 34% growth that we have clocked in May. All our brands have been doing well, with the recently launched Verito having sold 129 vehicles”.
The company’s auto sector announced a 20% rise in its overall auto sales numbers, which stood at 34323 units during May 2011 as against 28488 units during May 2010.
Ssangyong Motor Company, part of the US$12.5 billion Mahindra Group, sold 10,425 units in the month of May. The company sold over 10,000 vehicles per month for the last 3 months. This represents a 48% increase when compared with May last year.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A US $12.5 billion multinational group based in Mumbai, India, Mahindra employs more than 119,900 people in over 100 countries.
In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow.
Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure Project (CDP).
In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
For further information, please visit www.mahindra.com
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Ms. Roma Balwani
Senior Vice President & Group Head, Corporate Communications
Mahindra & Mahindra Ltd.
Phone: (+91-22) 2490 1441
Fax: (+91-22) 2490 0830