Mumbai, Oct 1 ( IANS) Automobile major Mahindra and Mahindra (M&M) Monday reported its highest ever monthly sales in September at 48,342 units.
The sales were a growth of about 10 percent over the same month last year when the company sold 44,137 units.
According to the company, the healthy sales growth comes on the back of passenger vehicles segment sales which zoomed up 22 percent.
“We are happy with the performance and growth we have achieved during September 2012 over the festive season month of September 2011,” said Pravin Shah, chief executive, automotive division, M&M.
Shah also gave a positive sales outlook for the festive season as a result of the recent Reserve Bank of India (RBI) decision to cut cash reserve ratio (CRR) rates, that has allowed banks to offer lower interest rates on vehicle loans.
“Post reduction in CRR banks have started cutting lending rates and are also looking at reducing vehicle loan rates. We are hopeful of a good performance in the upcoming festive season,” Shah added.
The company’s half-yearly consolidated auto sales numbers from April to September 2012 stood at 267,266 units, up 20 percent over the corresponding period of the last financial year.
The company’s domestic sales stood at 45,263 units during September 2012, as against 41,136 units during September 2011, an increase of 10 percent.
The company added that its four-wheeler commercial segment, which includes the passenger and load categories of vehicle, has registered a growth of seven percent.
