M&M posts 30% rise in sales in August

Auto-maker Mahindra & Mahindra on Thursday reported 30.38 per cent 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 per cent 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 per cent.

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 per cent 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) Mr Rajesh Jejurikar said.

The sales of three-wheelers during August went up by 26.01 per cent 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 per cent 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 per cent.

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