Mahindra and Mahindra auto sales up 18% in Nov

Auto major Mahindra & Mahindra today reported 18 per cent increase in total sales at 48,143 units in November.

The company had sold 40,722 units in the same month last year.

The company's domestic sales stood at 46,755 units during the month against 38,159 units in November 2011, up 23 per cent, it said in a statement.

The passenger vehicles segment (which includes the UVs and Verito) registered an increase of 38 per cent at 24,604 units against 17,813 units in the year-ago month.

Exports in the last month, however, declined by 46 per cent at 1,388 units from 2,563 units in the same month last year, it said.

Commenting on the numbers, Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah said: "We are happy to maintain our growth trend on the back of our portfolio of products especially the Quanto, which has crossed more than 12,000 bookings in just over two months.

" He said the recently announced GDP numbers were in line with expectations and the company did not foresee any immediate impact on the monetary policy.

"Till there is a decrease in interest rates for corporate or retail credits, financing rates will remain high for auto customers which is a cause of concern.

However, we expect interest rates to be reduced during the last quarter of the current financial year," Shah said.

Stocks More on Mahindra & Mahindra Ltd

Company INFO More on Mahindra & Mahindra Ltd

Mutual Funds Check for top funds

ALSO READ

Govt aims to bring down CAD to 2.5% by 12th Plan-end, says Montek

Q4 results, IIP data to drive markets this week: Experts

Market review: BSE Sensex ends higher for 3rd consecutive week, up 289 pts

Bangladesh urges no harsh EU measures over factory deaths