Indian automobile manufacturer Mahindra & Mahindra (M&M) has reported an increase of 16 percent in its total sales for the month of June 2012 selling 41,322 units in comparison to 35,584 units sold in the same month in 2011.
The passenger vehicle segment which comprises utility vehicles and the Verito sedan raked up sales of 19,792 units in June 2012, an increment of 23 percent over 16,053 units sold in June 2011. The company’s total sales for the first quarter of the fiscal 2012-13 have been reported to be 1,26,029 units against 1,01,997 units sold in the same period in 2011-12 translating into a 24 percent increase.
Mr. Pravin Shah Chief Executive Automotive Division Mahindra & Mahindra stated that the company expects the growth in demand for utility vehicles in India to continue. In terms of policy changes at the industry level, Mr. Shah commented that to create an overall positive sentiment among the consumers, the industry must refrain from making any major changes in policies and fuel prices.
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