M&M domestic auto sales jump 67.4%

Homegrown auto maker Mahindra & Mahindra (M&M) today reported its highest ever domestic monthly auto sales with 67.4 per cent increase in January at 28,988 units against 17,320 units in the same month last year.

"We have good products and we have also been helped by a good environment such as lower interest rates and excise and good liquidity," M&M President Automotive Sector Pawan Goenka told PTI.

He said the company witnessed good growth in all segments of three-wheelers, light commercial vehicles (LCV) and the newly launched mini truck Gio.

The company's total utility vehicle sales, comprising the Scorpio, Xylo and Bolero, in January stood at 20,332 units against 13,397 units in the same month last year, up 51.8 per cent.

Combined sales of three-wheelers, Gio and Maxximo stood at 7,300 units as against 2,823 units last year, up 159 per cent. LCV sales from Mahindra Navistar stood at 801 units against 503 units last year, a growth of 59.84 per cent.

Sales of the sedan Logan, from the joint venture Mahindra Renault were down marginally at 555 units against 597 units in the same month last year.

Exports during the month stood at 1,161 units during the month against 291 units last year.

Commenting on the situation in the auto industry, he said: "We can say the worst is behind us provided there are no jolts in future in the form of hikes in interest rates, excise or commodity prices."