M&M October sales up by 20%

Automotive major Mahindra & Mahindra Ltd on Sunday said it sold 51,383 units last month, up by 20% over corresponding period previous year.

In a statement, the company said it sold 51,383 units (passenger vehicles 24,060 units, commercial vehicles 18,756 units, three wheelers 5,999 units and exports 2,568) during October 2015 as against 42,780 units (passenger vehicles 20,255 units, commercial vehicles 14,345 units, three wheelers 5,678 and exports 2,502 units) sold during October 2014.

"The advent of the festive season has provided the much needed fillip for the auto industry especially on the back of the new launches of most manufacturers which has received an encouraging response.

"With the drop in interest rates and the fuel prices remaining benign, we expect the industry to maintain a good growth momentum going forward," Pravin Shah, president & chief executive (automotive) was quoted as saying in the statement.