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TIGER PRODUCTIONS
The famous utility vehicle manufacturer Mahindra and Mahindra (M&M) has posted a highest flourishing hike of 10% in its auto sales for the September month with total sales of 48,342 units. As per reports, in the year ago period company sold 44,137 units.
With commendable progress, M&M is also planning 0.5 to 1.5% increase in the prices of its cars in next few days. Even other car majors such as Maruti Suzuki and Honda Cars India has already announced the car price hike in order to counter rising input costs and costlier imports.
Mahindra registered 22% growth in passenger vehicle segment with total sales of 23,808 units. The segment includes all the utility vehicles and sedan Verito. In September 2011, company sold 19,447 units.
Company’s exports witnessed a marginal rise of 3% at 3,079 units from 3,001 units sold in the same month last year, as stated in the issued statement. But exports showed an overall progress of 40% during the period April- September, 2012.
The Chief Executive Officer – automotive division at Mahindra & Mahindra, Mr. Pravin Shah said, “The loan interest rates are slashed in general and most of the commercial finance institutes or banks are also considering a plan to reduce interest rates in the coming season. Also the hike of Rs. 5 on diesel prices has shadowed the uncertainty diesel vehicle manufacturers were facing. So all is at best right now and is even getting better.”
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