M&M posts 30% rise in sales in Aug

Auto maker Mahindra & Mahindra today reported 30.38% jump in sales at 37,684 units in August 2011.

The company had sold 28,903 units in the corresponding month of 2010, Mahindra & Mahindra (M&M) said in a statement.

In the domestic market, the company registered a rise of 31.09% at 35,756 units during the month compared to 27,275 units in the year-ago period, it added.

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

Sales of the Verito sedan went up by over two-fold to 1,710 units during the month from 801 units in the same month a year ago.

"We have been able to maintain a healthy growth of 30% in August, in spite of increasing pressures on the automotive industry. Verito has continued its growth momentum having sold 1710 units in August," M&M Chief Executive (Automotive Division) Rajesh Jejurikar said.

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

The company's Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles sales increased by 66.77% in last month to 12,563 units from 7,533 units in the year-ago period, the statement said.

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

M&M's exports during the month jumped 18.43% to 1,928 units from 1,628 units during August 2010.