Automobile major Mahindra & Mahindra Ltd (M&M) announced that it has logged 22 percent sales growth in August this year as compared to the same month in 2011.
In a statement, M&M said it sold 45,836 units last month up from 37,684 units sold in August 2011.
M&M’s passenger vehicle portfolio (utility vehicles and Verito car) registered 39 percent growth selling 21,831 units last month as against 15,664 units sold in August 2011.
In the four-wheeled commercial and passenger-carrying vehicle segment, M&M sold 14,267 units up from 12,563 units sold last August.
However, the sales of three-wheelers came down to 6,004 units from 6,394 units sold in August 2011.
“Considering the challenging external environment, we are happy to have achieved a growth of 22 percent. Our new look Verito has evoked a positive response of having crossed the 2,000 plus units sales mark during August 2012,” the statement quoted Pravin Shah, chief executive of the automotive division as saying.
“The overall sentiments for the auto industry are low which could benefit from a relief in interest rates, to boost sales. At Mahindra, we continue to remain cautious and watchful of the situation,” he added.