Mahindra and Mahindra Ltd. (M and M Ltd.), India’s leading SUV manufacturer, on Wednesday announced a 19 percent rise in its auto sales numbers, which stood at 47059 units during July 2012 as against 39633 units during July 2011.
The company’s domestic sales stood at 42799 units during July 2012, as against 37323 units during July 2011, an increase of 15 percent. The Passenger Vehicles segment (which includes the UVs and Verito) has registered a growth of 27 percent, having sold 22011 units in July 2012, as against 17312 units during July 2011.
Speaking on the performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We are happy to have achieved a growth of 19 percent during July 2012 in spite of difficult and uncertain market conditions continuing. 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”.