Mahindra registers a growth of 17% in last financial year

Mahindra & Mahindra Ltd.  announced a 17% growth in its auto sales numbers for the Financial Year 2012-13, with a sales figure of 563373 units as against 483164 units in FY 2011-12.

The company’s auto sales numbers for the month of March 2013 stood at 51904 units as against 46919 units during March 2012, a growth of 11%. The company’s domestic sales stood at 49225 units during March 2013, as against 44260 units during March 2012, an increase of 11%. The Passenger Vehicles segment (which includes the UVs and Verito) has registered a growth of 13%, having sold 25847 units in March 2013, as against 22961 units during March 2012.

The 4 wheeler commercial segment which includes the passenger and load vehicles registered a sale of 17212 units, while the 3-wheelers segment clocked 4831 units in March 2013. Exports for the month of March 2013 stood at 2679 units.

Speaking on the performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We are happy to have crossed the half a million sales mark for the first time, during FY 2012-13, given the challenges and the pressures the auto industry is currently facing. The 3% additional excise duty on SUVs is clearly a deterrent and by not having a level playing field for all SUVs, it certainly destabilises the market dynamics. At Mahindra, we hope to create excitement in the market during FY 2013-14 especially with the launch of our sub 4 metre Verito and other product offerings”.