M&M posts highest monthly sales in July, up 41%

Auto-maker Mahindra & Mahindra today reported its highest ever monthly sales at 39,633 units in July 2011, registering 41.30% jump over the same period last year.

The company had sold 28,049 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 41.90% at 37,323 units during the month compared to 26,303 units in the year-ago period, it added.

Total sales of passenger vehicles, including Scorpio, Xylo, Bolero and Verito, stood at 17,312 units as against sales of 12,825 units in July 2010, up 34.99%.

Sales of the Verito sedan went up by over two-fold to 1,630 units during the month from 752 units in the same month a year ago.

"We are delighted with the 41% growth in our automotive business in July and the record for highest ever sales. All our brands have been doing very well and Verito continues its very strong demand momentum," M&M Chief Executive (Automotive Division) Rajesh Jejurikar said.

However, the sales of three-wheelers and Gio and Maxximo mini-trucks during July fell marginally to 5,395 units from 5,418 units during the same month last year.

The company's four-wheeler commercial vehicles sales increased by 91.01% in last month to 13,472 units from 7,053 units in the year-ago period, the statement said.

Light commercial vehicle sales from Mahindra Navistar Automotives Ltd during the month stood at 1,144 units as against 1,007 units in the same month a year ago, a rise of 13.60%.

M&M's exports during the month jumped 32.30% to 2,310 units from 1,746 units during July 2010.