Mumbai, November 1, 2012: Mahindra & Mahindra (M&M) has announced its all-time high monthly auto sales of 53,438 units, representing a 29 percent growth (October 2011: 41,506 units).
The company’s passenger vehicles division also registered all-time high sales at 26,932 units in October 2012, an increase of 44 percent (October 2011: 18,756). Total domestic sales stood at 51,316 units in October 2012, up 30 percent (October 2011: 39,352). Given the considerable waiting period for flagship product XUV500, M&M has been increased to 5,000 units per month.
Meanwhile, the four-wheeler commercial segment which includes the passenger and load categories registered 26 percent growth at 16,561 units (October 2011: 13,101).
While sales of the company’s three-wheeler division rose by 10 percent to 6,973 units (October 2011: 6,332), Mahindra Navistar Automotives’ sales fell by 27 percent to 850 units (October 2011: 1,163)
While total domestic sales were 51,316 units, up 30 percent (October 2011: 39,352), exports in October 2012 were 2,122 units, down one percent (October 2011: 2,154).
FES growth down in October and this fiscal
While the auto division has hit a high, M&M’s Farm Equipment Sector (FES) is feeling the pressure of a slowing economy, particularly a lower offtake of tractors. FES saw domestic sales of 28,872 units in October 2012, down 5.4 percent compared to the 30,519 units sold in October 2011. Total tractor sales (domestic and exports) during the month were 29,565 units, down 7.14 percent as against 31,838 units for October 2011. Exports last month stood at 693 units.