Mahindra's passenger vehicle segment has registered a growth of 33 per cent while the overall growth of the company's automobile division has been pegged at 11 per cent on a Year-on-Year basis
Mahindra has reported a growth of 11 per cent for its automobile division in January 2013 over the corresponding period in 2012. The company sold 49,503 vehicles in the first month of 2013 as against 44,718 vehicles sold in January 2012. Mahindra’s sales stood at 47,841 vehicles in January 2013, as compared to 41,369 vehicles sold during January 2012, an increase of 16 per cent.
In the passenger vehicle segment, Mahindra registered a growth of 33 per cent by selling 26,555 units in January 2013 as compared to 19,975 units sold in January 2012.
Speaking on the monthly performance of the company, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra commented, “The recently announced reduction of 25 BPS both in the Repo and CRR rates is a positive step and is expected to bring in the much desired momentum in the market. The Industry has already seen reductions in auto loan rates announced by some banks which will help improve customer sentiments. We are happy to have grown in some of our major segments during January 2013.”
In the passenger vehicle segment Mahindra currently sells seven vehicles, namely, the Mahindra Verito, Quanto, Bolero, Thar, Xylo, Scorpio and the XUV5OO. Prices for Mahindra vehicles in the country range between Rs 5.32 lakh (ex-showroom Delhi) for the most affordable variant of the Verito to Rs 14.43 lakh (ex-showroom Delhi) for the 4X4 XUV5OO.