Mahindra & Mahindra grows 19 percent in July
August 1st, 2012 - 5:04 pm ICT by IANSChennai, Aug 1 (IANS) Utility vehicle major Mahindra & Mahindra Ltd (M&M;) closed July with 19 percent growth in sales selling 47,059 units.
In a statement issued Wednesday, M&M; said the company sold 47,059 units (domestic 42,799 units, exports 4,260 units) last month as against 39,633 units (domestic 37,323 units, exports 2,310 units) sold in July 2011.
In the passenger vehicles segment (utility vehicles and Verito), M&M; sold 22,011 units last month, up form 17,312 units sold during July 2011.
The company sold 14,688 units of commercial vehicles (passenger and load carriers) last month as against 13,472 units sold in July 2011.
However, the company’s three-wheelers and commercial vehicles (operated by subsidiary Mahindra Navistar) logged negative sales for the period under review.
Last month, M&M; sold 5,149 three-wheelers and 951 commercial vehicles — down from 5,395 units and 1,144 units respectively sold in July 2011.
Expressing satisfaction at the company’s 19 percent sales growth, Pravin Shah, chief executive (automotive division), said: “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.”
- M&M; logs 22 percent sales growth in August - Sep 01, 2012
- In a subdued auto market, Asian companies log growth in July (Roundup) - Aug 01, 2012
- Slowdown, inflationary pressures affect automobile sales in August (Roundup) - Sep 01, 2012
- Ashok Leyland's sales grow, Bajaj Auto dip in July - Aug 02, 2012
- Bajaj Auto's June sales down six percent - Jul 02, 2012
- TVS Motor logs negative growth in July - Aug 01, 2012
- Mahindra and Mahindra's January sales up 22 percent - Feb 01, 2012
- Auto companies start 2012 with good sales (Roundup) - Feb 01, 2012
- TVS Motor logs lower sales in March - Apr 02, 2012
- July auto sales slump as interest rates, fuel prices rise (Roundup) - Aug 01, 2011
- Mahindra to launch SsangYong SUVs by next year - Sep 05, 2011
- Car sales to fall in 10 years despite growth in January (Lead) - Feb 08, 2012
- Excise duty hike pushes auto sales up in March (Roundup) - Apr 02, 2012
- Bajaj Auto's February sales up five percent - Mar 02, 2012
- Auto sales remain subdued in June (Roundup) - Jul 02, 2012
Tags: amp, auto industry, chennai, commercial vehicles, confidence, economic expansion, interest rates, load carriers, navistar, passenger vehicles, satisfaction, segment, sentiments, subsidiary, three wheelers, utility vehicles, verito