Mahindra March total auto sales rise 11% to 51,904 units

Moneycontrol Bureau

Utility vehicle maker Mahindra & Mahindra's total automobile sales in March rose 11 percent year-on-year to 51,904 units. It sold 49,225 units in the domestic market (up 11 percent), while exports rose just about 1 percent at 2,679 units. Among M&M's key segments, sales of passenger vehicles, which includes UVs and Verito sedan, were up 13 percent from a year ago to 25,847 units, while four-wheeler CV sales rose 17 percent to 17,212 units last month. However, three-wheeler sales continued to decline. Sales in March were down 5 percent to 4,831 units. Medium and Heavy truck sales also remained sluggish. Mahindra Navistar reported a 12 percent drop in sales last month at 1,335 units. Over financial year 2013 (April-March), M&M sold 5.63 lakh units, up 17 percent year-on-year. Its domestic sales last year rose 17 percent and exports rose 11 percent. TRACTOR SALES The company's total tractor sales last month declined 0.5 percent to 17,330 units. In the domestic market, it sold 15,551 units, down 2 percent, while it exported 1,779 units, up 20 percent. For the full year (2012-13), the India's largest tractor company saw its sales decline 5 percent to 2.24 lakh units. M&M's domestic tractor sales fell around 5 percent to 2.12 lakh units. M&M shares were down around 1 percent at Rs 853.50 in afternoon trade on NSE.