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M&M auto sales increase 22% in Aug

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Auto major Mahindra & Mahindra today reported a 21.74% increase in sales at 45,836 units for August against 37,684 units in the same month last year.

The company's domestic sales stood at 42,826 units during the month against 35,756 units in August 2011, up 19.77%, it said in a statement.

 

 

The passenger vehicles segment (which includes the UVs and Verito) registered 39.37% increase at 21,831 units against 15,664 units in the year-ago month.

Exports in the last month jumped 56.12% to 3,010 units from 1,928 units in the same month last year, it said.

Commenting on the numbers, Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah said: "Considering the challenging external environment, we are happy to have achieved a growth of 22%".

The company's new look Verito has evoked a positive response, having crossed the 2,000 plus units sales mark during August 2012, he added.

"The overall sentiments for the auto industry are low which could benefit from a relief in interest rates to boost sales. At Mahindra, we continue to remain cautious and watchful of the situation," Shah said.