Mahindra & Mahindra Ltd. has reported a growth of 33 percent in the Passenger Vehicles Segment (which includes UVs and Verito) in January 2013 as compared to January 2012. The company has sold 26,555 units last month whereas 19,975 vehicles were sold in the same month last year.
The company has registered a growth of 11 percent in its auto sales which stood at 49,503 units in Jan. 2013 whereas 44,718 units were sold in the same month last year. The domestic sales of Mahindra & Mahindra Ltd. stood at 47,841 units in January 2013 whereas 41,369 vehicles were sold in January 2012 depicting an increase of 16 percent in the sales. The 4 wheeler commercial segment (which includes the passenger and load vehicles) reported a sale of 14,451 units and the 3-wheeler segment reported a sale of 5,811 units in Jan. 2013. In the same month 1,662 vehicles were exported.
Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. commented, “The recently announced reduction of 25 BPS both in the Repo and CRR rates is a positive step and is expected to bring in the much desired momentum in the market. The Industry has already seen reductions in auto loan rates announced by some banks which will help improve customer sentiments. We are happy to have grown in some of our major segments during January 2013”.