M&M clocks highest-ever monthly sales, to hike prices soon

October 1, 2012: Mahindra & Mahindra (M&M) has announced its highest-ever overall monthly sales of 48,342 units in September 2012, representing a 10 percent rise over September 2011 sales of 44,137 units. The half-yearly consolidated sales for the April to September 2012 stood at 267,266 units, up 20 percent over the corresponding period in 2011.

M&M’s passenger vehicles division which covers utility vehicles and the sole Verito saloon sold 23,808 vehicles in September, up 22 percent over the 19,447 units sold in September 2011.

Meanwhile its commercial division which markets passenger and goods carriers including the Maxximo, Gio, Genio and Bolero pickup, sold 14,417 units during the month, a 7 percent growth over the 13,419 units sold in September 2011.

Sales for the three-wheeler division, which sells the Alfa passenger and goods carriers, and Alfa CNG, however were down 17 percent to 6,048 units. In September 2011, the division had sold 6,123 three-wheelers.

Mahindra Navistar Automotives, M&M's joint venture with the US-based Navistar, which makes M&HCVs, sold 990 units last month, up 2 percent from the 968 units sold in September 2011.

Speaking on the company’s overall performance, Pravin Shah, chief executive, Automotive Division, M&M, said: “We are happy with the performance and growth that we have achieved during September 2012. After the reduction in CRR, banks have started cutting lending rates and are also looking at reducing vehicle loan rates. We are hopeful of a good performance in the upcoming festive season”.

The manufacturer has a good order book and the XUV500, which is clocking good sales numbers, currently has a waiting period of between 6-14 weeks in different parts of the country. Also, the seven-seater Quanto mini-SUV, launched on September 20, has received 3,200 bookings. Furthermore, like a few other automakers which have announced price hikes, expect M&M to do the same soon.