M&M Dec auto sales up 6% to 45,297 units
Mahindra & Mahindra's total auto sales in December rose 6 percent year-on-year to 45,297 units. The growth was boosted by utility vehicles and Verito sedan, which grew 18 percent to 22,761 units.
January 01, 2013 / 19:54 IST
Moneycontrol Bureau
Mahindra & Mahindra's total auto sales in December rose 6 percent year-on-year to 45,297 units. The growth was boosted by utility vehicles and Verito sedan, which grew 18 percent to 22,761 units.The company's total domestic sales last month were up 6 percent, while exports grew 4 percent from a year ago.M&M's three-wheeler commercial vehicle sales slipped 9 percent to 5,209 units, while 4-wheeler CV sales were flat at 13,706 units. Sluggish demand for medium and heavy commercial vehicles continues to hit its Mahindra Navistar arm. Its sales declined 40 percent to 631 units in Dec.M&M last month said it will buyout US-based Navistar International Corp's stake in their automotive and engines joint ventures for Rs 175 crore. "As part of its "Drive to Deliver" turnaround plan launched in August, Navistar has been conducting an analysis of all of its businesses and programs to determine their return on invested capital (ROIC) and identify areas for improvement. Based on this business environment, Navistar has determined that it needs to redirect its efforts to other initiatives that more quickly contribute to the company's goal to improve its ROIC," Navistar had said. So far this year (April-Dec), M&M's total sales are up 19 percent to 4.14 lakh units.M&M was up 1.1 percent at 942.20 on NSE in afternoon trade.Also Read: TVS Motor Dec sales down 8% at 1.56 lakh units Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
