Mahindra & Mahindra witness sales increase in August across board

Stocks

oi-Shoaib MD

By Shoaib Md

Published: Thursday, September 1, 2011, 15:19 [IST]

Mahindra & Mahindra, the famed auto-maker reported an increase in sales to 37,684 units in August 2011. This is a rise by 30.38% jump in sales.

In an official statement the company said it had sold 28,903 units in the corresponding month of 2010, Mahindra & Mahindra (M&M).

On the domestic side of the market the company saw a rise of 31.09% at 35,756 units during the month compared to 27,275 units in the year-ago period.

Total sales of passenger vehicles increased by 13.54%. It included Scorpio, Xylo, Bolero and Verito, stood at 15,664 units as against sales of 13,796 units in August 2010.

Sales of the Verito sedan increased by over two-fold to 1,710 units during the month of August from 801 units in the same month a year ago (2010).

The sales of three-wheelers went up by 26.01% during August to 6,394 units from 5,074 units for the corresponding month of 2010.

Gio and Maxximo, the two mini-trucks and other four-wheeler commercial vehicles sales increased by 66.77% in August to 12,563 units from 7,533 units in the year-ago period.

Meanwhile, Light commercial vehicle (LCV) sales from Mahindra Navistar Automotives during the month stood at 1,135 units as against 872 units in the same month a year ago, a rise of 30.16%.

Also the company's exports during the month increased 18.43% to 1,928 units from 1,628 units during August 2010.

VIEW: The company's strong tractor division should also be tracked. As slowdown will hit the countries, national governments will provide subsidy to the farming segment of the country and this will benefit the company.

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