Mahindra & Mahindra posted strong growth of 39 per cent in the passenger segment, compared to same month last year. The company sold 21831 units last month against 15664 units in August 2011, the numbers are also 30 per cent higher year-on-year basis.
Mahindra also exported 3010 units last month, at a growth rate of 52 per cent. The XUV500 is one of the main reasons for the increase, since the vehicle was available starting last October. Mahindra’s position in the utility segment is expected to further strengthen with the launch of the new compact five-seater MUV, the Quanto, based on the Xylo platform. The Quanto will be launched between 15 and 30 September to compete with the Renault Duster and the Maruti Suzuki Ertiga in the compact utility vehicles segment.
The overall hike registered by M&M including both passenger and commercial vehicles stands at 22 per cent.
