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Research
Mahindra & Mahindra - September 2012 Sales Update - Eastern Financiers
Posted On : 2012-10-12 23:43:22( TIMEZONE : IST )
Clocking an all time high monthly auto sales of 48342 units during the month of September 2012 against 44137 units sold in September last year-India's leading sports utility vehicle manufacturer, Mahindra & Mahindra witnessed growth of 9.53% on a yearly basis. The half-yearly consolidated auto sales numbers for the April- September period of FY13 stood at 267266 units, up by 19.61% over the corresponding period of the last financial year. However, the farm equipment sector of the company continued to clock de-growth of 18.60% marking sales of 20085 units as against 24673 units being sold in September last year. The overall growth of the company, including the farm equipment sector slightly inched lower by 0.56% with sales of 68427 units in September 2012 equated to 68810 units sold in September 2011.
The company documented domestic sales of 45263 units during September 2012, as against 41136 units during September 2011, enlisting gains of 10.03%.
The company posted beefy growth of 22.43% in the passanger vehicle segment that includes Scorpio, Xylo, Bolero, Verito as well as the XUV500 which primarily attributed to the hike. Mahindra sold 23808 units in the passanger utility segment during September 2012 against 19447 units being sold in September last fiscal. The 4 wheel pick-up and commercial passenger segment that includes the Gio and Maximo brands has registered growth of 7.44%.
The Mahindra Navistar Automotive (MNAL) and the three wheeler segment that continued to slither in the preceding months of the fiscal, improved for the MNAL division this month which grew though marginally by 2.27% but the three wheeler segment endured to fall to the tune of 17.17% during September.
The company's three-wheelers sales continued to mark de-growth this month after slipping 6.10%, 4.56%, 6.08% and 3.96% during preceding months of August, July, June and May respectively. The MNAL division dripped down 36.21% in the preceding month of August 2012.
Exports for the month of September 2012 stood at 3079 units, with an overall growth of 40.40% during April-September period of FY13. On a yearly basis exports edged up by 2.60% with 3001 units being exported during September 2011. Equated to the preceding month of August 2012, exports grew by 2.29% that witnessed exports of 3010 units. Exports for the farm equipment sector meagerly edged up by 1.03% with 1177 units being exported against 1165 in September last fiscal.
Commenting on the performance Mr. Pravin Shah, Chief Executive, Automotive Division of Mahindra & Mahindra Ltd. said, "They are happy with the performance and growth that they have achieved during September 2012 over the festive season month of September 2011. Post reduction in CRR, banks have started cutting lending rates and are also looking at reducing vehicle loan rates. They are hopeful of a good performance in the upcoming festive season".
