Mahindra's Auto Sector registers 20% growth in May 2011

Top Quote The Verito sedan grows by a robust 185%. End Quote
  • (1888PressRelease) June 02, 2011 - Mumbai - Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $11.1 billion Mahindra Group, today announced a 20% rise in its auto sales numbers, which stood at 34323 units during May 2011 as against 28488 units during May 2010.

    The company's domestic sales stood at 32159 units during May 2011, as against 27038 units during May 2010, an increase of 19%.

    The Verito sedan registered a strong growth of 185% having clocked 1291 units in May 2011, as against 450 units in May 2010. This is Verito's highest ever sales since September 2009.

    The Passenger Vehicles segment (which includes the UVs as well as the newly launched Verito) registered a growth of 20%, having sold 16702 units in May 2011, as against 13939 units during May 2010. The 4 wheeler commercial segment which includes the passenger and load categories has registered a growth of 28%.

    Speaking on the numbers, Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, "We are happy with the 20% growth that we have clocked in May. All our brands have been doing well, with the recently launched Verito having sold 1290 vehicles, almost three times as compared to last May".

    Ssangyong Motor Company, part of the US$11.1 billion Mahindra Group, sold 10,425 units in the month of May. The company sold over 10,000 vehicles per month for the last 3 months. This represents a 48% increase when compared with May last year.

    About The Mahindra Group

    The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, and information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.

    A US $11.1 billion multinational group based in Mumbai, India, Mahindra employs more than 117,000 people in over 100 countries.

    In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India's Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow.

    Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure Project (CDP).

    In 2011, Mahindra acquired a majority stake in Korea's SsangYong Motor Company.

    For further information, please visit www.mahindra.com

    Connect with us on www.facebook.com/mahindragroup

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