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Mahindra & Mahindra’s auto sales rose 17 per cent to 5,63,373 units for the financial year ended March 31, compared with 4,83,164 vehicles sold during the same period a year ago.
The company sold 51,904 units in March, an 11 per cent rise from 46,919 units sold during same month of last year.
Mahindra & Mahindra’s (M&M) domestic sales rose 11 per cent to 49,225 units during the month under review as against 44,260 vehicles in the comparable period a year ago. The company sold 25,847 passenger vehicles (including utility vehicles and Verito), recording a 13 per cent growth from 22,961 units during March 2012.
The four-wheeler commercial segment, which includes passenger and load vehicles, sold 17,212 units and the three-wheelers segment clocked 4,831 units in March 2013. Exports for March 2013 stood at 2,679 units.
“The 3 per cent additional excise duty on SUVs (sports utility vehicles) is clearly a deterrent and by not having a level playing field for all SUVs, it certainly destabilises the market dynamics,” said M&M Chief Executive Officer (Automotive Division) Pravin Shah.
The company would launch sub-four-metre Verito and other products in FY 2013-14, Shah said.
“We have no plans of cutting back investments for infrastructure, product development or expansion of channels,” he added.
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