Mahindra & Mahindra posts 2 per cent jump in April sales

Mahindra & Mahindra (M&M) has reported 1.76 per cent increase in its total sales in April 2013. The company sold 41,432 units in April 2013 against 40,715 units in the same month last year.

The auto maker's domestic sales stood at 39,902 units, against 39,295 units in the same month last year, up 1.54 per cent.

Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, saw a marginal increase stood at 20,748 units, against 20,554 units in April 2012.

"We remain cautiously optimistic of the current situation and do hope that with the much awaited and needed reduction in interest rates announcement by the RBI next week, the auto industry will look up," M&M Chief Executive (Automotive Division) Pravin Shah said.



Sales of the company's Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles went up by 10.42 per cent last month to 14,414 units from 13,054 units in the year-ago period, the statement from the company said.

M&M, however, said sales of its three-wheelers declined by 13.37 per cent to 4,036 units during April, 2013 from 4,659 units in the same month last year.

Commercial vehicle sales from Mahindra Navistar Automotives stood at 704 units during the month, against 1,028 units in the same month a year ago, a fall of 31.52 per cent.

M&M's exports rose 7.75 per cent to 1,530 units during the month from 1,420 units in April 2012.

Talking about the additional duties on sports utility vehicles during Budget 2013, Shah said the company is "extremely disappointed that the additional 3 per cent excise duty on SUVs has not been reversed in the Finance Bill which would have brought about some cheer and momentum for SUV makers and provided them with a level playing field".

With inputs from PTI