Mahindra & Mahindra (M&M), the Indian SUV manufacturer has posted an increase of 11 percent in its sales for the month of February 2013. The carmaker sold 47,824 units in the month in comparison to 43,087 units sold in the same month in 2012.
The passenger vehicle segment which consists of utility vehicles and the Verito sedan grew by 14 percent selling 23,421 units in February 2013 as opposed to 20,573 units sold in the same month in 2012.
The domestic sales of the SUV manufacturer stood at 44,399 units for the month, an increase of 10 percent compared with 40,461 units sold in February 2012.
Commenting on the sales performance of the company, Mr. Pravin Shah Chief Executive Automotive Division Mahindra & Mahindra stated the sales growth in the month of February reflect the customer preferences for Mahindra products. He also stated that the higher duty on SUVs as part of the Union Budget 2013-14 is likely to slow down growth. Moreover, being an SUV manufacturer, Mr. Shah added, the specific increase on SUVs doesn’t provide equal competitive space to all auto players in the industry.