Mahindra’s Auto sector grows 16pc in June 2012

Mahindra & Mahindra announced a 24pc rise in its auto sales numbers, which stood at 126029 units during the first quarter of FY 2012-13 as against 101997 during the first quarter of FY 2011-12. The company’s monthly sales for June 2012 stood at 41322 units, as against 35584 units during June 2011, an increase of 16pc. The Passenger Vehicles segment (which includes the UVs and Verito) has registered a growth of 23pc, having sold 19792 units in June 2012, as against 16053 units during June 2011. Commenting on the numbers Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We are happy to have achieved a growth of 24pc in the first quarter of FY 13 given the pressures and various uncertainties which the auto industry is currently facing. We expect the demand for utility vehicles industry to continue during the current financial year. Our opinion in the current industry scenario is to not have any major changes in the policies, including fuel prices, in order to create an overall positive sentiment”. In June 2012, Mahindra sold 19,792 units (16,053) in June 2012. As for 4-wheelers commercial (passenger and load), the company sold 13,103 units (11,560). This included products like the Maxximo, Gio, Genio and Bolero pick-ups. The company sold 4,836 three-wheelers in June 2012 as compared to 5,149 units in June 2011. Mahindra Navistar sold 1,220 units in June 2012 as compared to 1,010 units. Total exports all products stood at 2,371 units (1,812).