Mahindra sales up 18 per cent in December

Mahindra & Mahindra registered 18 per cent growth in their passenger vehicles (UVs and Verito) sales in December. The company sold 22,761 units last month against 19,341 units in same period last year.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra mentioned, “High interest rates, rising fuel prices and an overall slowdown in economic growth has kept consumer sentiment low during 2012. This is also evident in the auto industry sales performance for December, which traditionally has been a lean month. We do hope that corrective measures are announced and implemented soon bringing in the much needed buoyancy and growth for the industry.  At Mahindra, we are happy to maintain our growth momentum even during these challenging times”.

The company’s exports also grew four per cent to 2,990 units last month. The increase in numbers is mainly due to their new models, the XUV500 and the Quanto. Their main competitor in the passenger car segment, Toyota, on the other hand has posted an overall negative result mainly due to fall in sales of Etios twins.