Mahindra's Auto Sector registers 30% growth in August 2011
Verito sells 1710 units in August 2011 - grows by a robust 113%.
- (1888PressRelease) September 03, 2011 - Mumbai: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $12.5 billion Mahindra Group, today announced a 30% rise in its auto sales numbers, which stood at 37684 units during August 2011 as against 28903 units during August 2010.
The company's domestic sales stood at 35756 units during August 2011, as against 27275 units during August 2010, an increase of 31%.
The Verito sedan registered a strong growth of 113% having clocked 1710 units in August 2011, as against 801 units in August 2010, maintaining its upward growth trend.
The Passenger Vehicles segment (which includes the UVs and Verito) registered a growth of 14%, having sold 15664 units in August 2011, as against 13796 units during August 2010. The 4 wheeler commercial segment which includes the passenger and load categories has registered a phenomenal growth of 67%.
Speaking on the numbers, Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, "We have been able to maintain a healthy growth of 30% in August, inspite of increasing pressures on the automotive industry. Verito has continued its growth momentum having sold 1710 units in August."
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, 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 $12.5 billion multinational group based in Mumbai, India, Mahindra employs more than 119,900 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
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