M&M posts 29% jump in sales in Feb
Auto-maker Mahindra & Mahindra today reported 29% increase in sales at 43,087 units in February.
The company had sold 33,378 units in the corresponding month in 2011, M&M said in a statement.
"We are happy to maintain a healthy growth in February 2012 with all our brands doing well. While the XUV500 continues to create excitement in the market, the recently launched New Xylo has also evoked a very positive response from customers," M&M Chief Executive (Automotive Division) Pravin Shah said.
In the domestic market, the company registered a 26.5% rise in sales to 40,461 units during the month compared to 31,967 units in the year-ago period, M&M said.
Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 20,573 units during the month under review as against 15,439 units in February 2011, translating into a 33.25% increase.
However, the company said sales of its three-wheelers went down by 10.72% to 5,111 units during February 2012 from 5,725 units during the same month last year.
Sales of the company's Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles increased by 36.5% last month to 13,522 units from 9,903 units in the year-ago period, the statement said.
Commercial vehicle sales from Mahindra Navistar Automotives Ltd stood at 1,255 units during the month as against 900 units in the same month a year ago, a rise of 39.44%.
M&M's exports jumped by 86.1% to 2,626 units during the month from 1,411 units in February 2011.