Active Stocks
Thu Mar 28 2024 15:29:14
  1. Tata Steel share price
  2. 156.10 2.13%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,446.65 0.41%
  1. ITC share price
  2. 427.85 -0.04%
  1. Power Grid Corporation Of India share price
  2. 277.15 2.25%
Business News/ Companies / Company-results/  Mahindra posts 11% jump in Jan sales
BackBack

Mahindra posts 11% jump in Jan sales

Total sales of passenger vehicles stood at 26,555 units against 19,975 units in Jan 2012, translating into 32.94% increase

A file photo of various sections of the assembly line at Mahindra & Mahindra. Photo: Abhijit Bhatlekar/Mint (Abhijit Bhatlekar/Mint)Premium
A file photo of various sections of the assembly line at Mahindra & Mahindra. Photo: Abhijit Bhatlekar/Mint
(Abhijit Bhatlekar/Mint)

New Delhi: Auto-maker Mahindra & Mahindra on Friday reported 10.70% increase in its total sales at 49,503 units in January 2013.

The company had sold 44,718 units in the same month in 2012, Mahindra & Mahindra (M&M) said in a statement. “We are happy to have grown in some of our major segments during January 2013... The recently announced reduction of 25 basis point both in the repo and CRR rates is a positive step and is expected to bring in the much desired momentum in the market," M&M chief executive (Automotive Division) Pravin Shah said.

The Industry has already seen reductions in auto loan rates by some banks and it will help improve customer sentiments, he added.

In the domestic market, the company registered a 15.64% rise in sales to 47,841 units during the month compared to 41,369 units in the year-ago period, M&M said.

Total sales of passenger vehicles including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 26,555 units against 19,975 units in January 2012, translating into 32.94% increase.

The company, however, said sales of its three-wheelers declined by 5.14% to 5,811 units during January 2013 from 6,126 units in the same month last year.

Sales of the company’s Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles went up by 5.29% last month to 14,451 units from 13,725 units in the year-ago period, the statement said.

Commercial vehicle sales from Mahindra Navistar Automotives Ltd stood at 1,024 units during the month against 1,543 units in the same month a year ago, a fall of 33.64%. M&M’s exports dipped by 50.36% to 1,662 units during the month from 3,348 units in January 2012.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 01 Feb 2013, 08:04 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie