Mahindra & Mahindra Sales Pace Up By 21% In November
Mahindra & Mahindra on Tuesday (01 December) reported a 21 per cent increase in the total sales at 41,590 vehicles in November
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Mahindra & Mahindra on Tuesday (01 December) reported a 21 per cent increase in the total sales at 41,590 vehicles in November. The company had sold 34,292 units in the same month last year, M&M said in a statement.
The company’s domestic sales stood at 39,383 units during November 2015 as against 32,100 units during November 2014, a growth of 23 per cent.
In medium and heavy commercial vehicles segment, the company sold 454 units in November 2015, registering a growth of 75 per cent.
Commercial vehicle sales grew 17 per cent to 14,801 units last month against 12,622 in the year-ago period, M&M said.
Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 19,662 compared with 14,473 in November 2014, up 36 per cent.
Mahindra sold 19,662 SUVs, cars and vans in November 2015 as against 14473 in the same month last year, translating to a huge 36 per cent jump. The huge increase in the sales of SUVs is reported to come from good response generated from the September month launched TUV300, an entry-level rugged utility vehicle.
“The festive season coupled with new product launches as well as moderation in interest rates has seen the auto industry post a positive growth during the last couple of months,” M&M Chief Executive (automotive division) Pravin Shah said.
“At Mahindra, we have been buoyed by our new product launches such as the TUV300 as well as growth momentum of existing products like the Bolero, Scorpio and XUV500. Our exports have been very encouraging, showing a 28 per cent cumulative growth for the current fiscal. We are happy to be in a positive growth phase at the end of November 2015,” he added.
He said he was looking forward to the implementation of the goods and services tax regime, which would replace the cumbersome state sales tax system.
“I believe speedy implementation of GST will help and have a long term impact on the competitiveness of Indian auto industry,” he added.