Mahindra & Mahindra auto sales increased 18 per cent last month to 48,143 units, against 40,722 units in same month last year. The passenger vehicles segment of the company has seen maximum growth of 38 per cent during the festive month.
M&M’s domestic sales are up 23 per cent; however exports declined 46 per cent to 1,388 units. Addition of the Quanto has also propelled company’s sales. The new compact MUV has received 12,000 bookings since launch in September.
Speaking on the performance for the month Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra said, “The recently announced GDP numbers are in line with expectations and we do not foresee any immediate impact on the monetary policy. Till there is a decrease in interest rates for corporate or retail credits, financing rates will remain high for auto customers which is a cause of concern. However we expect interest rates to reduce during the last quarter of the current financial year. We are happy to maintain our growth trend on the back of our portfolio of products especially the Quanto which has crossed more than 12,000 bookings in just over two months”.
