Mahindra car sales growth surges to 18% in Nov, industry in a rejoicing mood
November has been a bash for the auto industry. All the car makers have almost minted money in this month and in fact they have reduced their loss due to the slump in the industry. Sailing in the same boat, Mahindra has also registered an increase of 18 percent in sales in this month. Experts believe that the Mahindra Quanto and the Mahindra XUV 500 have given the extra push to the sales that were literally in need of it. Though Mahindra has infact emerged as some of the few car makers that did well even in tough times. Overall, the car sales in India have grown by 28.7 percent which is considered as the best ever growth in the past several months.
As per the reports, the company sold a total of 48143 units compared to only 40722 units sold in the same month last year. This increase is said to be the direct impact of overall positive sentiment as well as the launch of Quanto and XUV 500 this year. The Quanto has already bagged 12k bookings. Also, the sales got spur following the festive season buying when people invested highly in property, jewelry and cars. Meanwhile, Mahindra car exports have come down a little bit following the weak rupee value.
Mahindra is said to be highly bullish and expects sales to further strengthen as soon as there is an interest rate cut pending in the last quarter of this year. Other cars that helped Mahindra get this mighty figure are Mahindra Verito
and Mahindra Scorpio
that has been the best selling Mahindra car in India in terms of steady sales. There are two cars pending – Mahindra E2O electric car and the Mahindra Verito CS. It is expected that these two cars will take care of the fourth quarter sales if Mahindra is able to launch these in some time.