Mahindra's Auto Sector registers 19% growth during July 2012
Passenger vehicles segment grows by an impressive 27%
Mumbai, August 1 2012: Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced a 19% rise in its auto sales numbers, which stood at 47059 units during July 2012 as against 39633 units during July 2011.
The company’s domestic sales stood at 42799 units during July 2012, as against 37323 units during July 2011, an increase of 15%. The Passenger Vehicles segment (which includes the UVs and Verito) has registered a growth of 27%, having sold 22011 units in July 2012, as against 17312 units during July 2011.
Speaking on the performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We are happy to have achieved a growth of 19% during July 2012 in spite of difficult and uncertain market conditions continuing. Incidentally, July 2012 is the second highest monthly sales for us. The Auto Industry needs to be concerned about slower economic expansion and consumer sentiments which are not so positive. A cut in interest rates would have helped lower the cost of manufacturing and product, thereby improving industry confidence”.
Sales Summary July 2012
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Segment |
July 2012 |
July 2011 |
YTD July FY13 |
YTD July FY12 |
MOM Growth% |
YOY Growth % |
|
Passenger Vehicles (UVs & Verito) |
22011 |
17312 |
83515 |
65526 |
27% |
27% |
|
4-wheelers Commercial (Passenger & Load)* |
14688 |
13472 |
54099 |
44528 |
9% |
21% |
|
3-wheelers |
5149 |
5395 |
18964 |
19453 |
-5% |
-3% |
|
MNAL |
951 |
1144 |
4409 |
4096 |
-17% |
8% |
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DOMESTIC TOTAL |
42799 |
37323 |
160987 |
133603 |
15% |
20% |
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M&M EXPORTS |
4260 |
2310 |
12101 |
8027 |
84% |
51% |
|
SECTOR TOTAL |
47059 |
39633 |
173088 |
141630 |
19% |
22% |
*Includes Maxximo, Gio, Genio & Bolero Pick up
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 $15.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 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. In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
For further enquiries
Roma Balwani
Senior VP & Group Head - Corporate Communication
Mahindra & Mahindra Ltd
Phone: +91 22 2490 1441
Email: balwani.roma@mahindra.com