Mahindra & Mahindra has reported a 16 percent increase in total sales at 45,101 units in November. The company had sold 38,570 units in the same month last year, Mahindra & Mahindra said in a statement. Domestic sales were at 41,564 as against 36,039 in the year-ago month, up 15 percent, it added.
Vote Now! Tech And Auto Awards 2018 is here. Click here to vote for your favourite gadgets and cars.
Sales of utility vehicles including popular models Scorpio and XUV500, stood at 15,049 units as against 14,958 units in November 2017, a growth of 1 percent, it added. Commercial vehicle sales during the month stood at 19,673 units as against 15,554 units, in the same month last year, up 26 percent, it said.
Total exports during the month were at 3,537 units as compared to 2,531 units in the corresponding month last year, up 40 percent.
M&M President, Automotive Sector, Rajan Wadhera said, "We have registered a double-digit growth in our overall sales. However, adverse macro-economic conditions have impacted the growth forecast for the automotive industry in general."
On the outlook, he said, "Going forward, we hope that decrease in fuel prices and improving liquidity will drive demand for passenger vehicles." The company is upbeat due to new product launches of Marazzo, Alturas G4 and the upcoming launch of our new SUV code-named S201, he added.(This story has not been edited by News18 staff and is published from a syndicated news agency feed)