M&M automotive sales cross the 20 lakh threshold

MUMBAI, AUGUST 01 '07: Mahindra & Mahindra Limited in the month of July rolled out its 2 millionth vehicle, achieving a significant sales milestone.

On the occasion Dr. Pawan Goenka, President, Automotive Sector, M&M said, "Over the last 60 years volumes have grown at the rate pf 9% per annum, CAGR in the last 5 years has grown by 22%. UV sales account for 82%, LCVs "� 9%, 3 wheelers "� 6% and exports contributed 3% to the 2 million mark. The roll out of the 2 millionth vehicle is an indicator to our exponential growth in the industry as an automaker."

M&M clocking good sales numbers is the reflection of the innovation that the company has passed on to their vehicles. Mahindra's products are both affordable and highly aspirational. Over the last decade itself, M&M has sold 1 million vehicles. This can be attributed to the company's constant practice of taking customer feedback on its products at critical stages in their lifecycles.

M&M which is a part of the $4.5 billion Mahindra Group continued strong growth of Q1 F08 into the month of July clocking vehicle sales of 19163 units in July 2007, a growth of 46% over the same month last year.

Passenger Cars

Mahindra Renault sold 2890 units of frugal and affordable wide body sedan, Logan, in the month of July. Logan is the highest selling sedan. Scorpio is the highest selling UV.

Domestic sales

M&M's domestic sales were recorded as 18536 units as opposed to 12481 units in the same month last year, a growth of over 49%.

Exports

The company exported 627 vehicles in July 2007 a 4% dip in contrast to 655 units in the corresponding period last fiscal.

About The Mahindra Group The US $4.5 billion Mahindra Group is among the top 10 industrial houses in India. Mahindra & Mahindra is the only Indian company among the top four tractor manufacturers in the world and is the market leader in multi-utility vehicles in India. The Group has a leading presence in key sectors of the Indian economy, including trade and financial services (Mahindra Intertrade, Mahindra & Mahindra Financial Services Ltd.), automotive components, information technology & telecom (Tech Mahindra, Bristlecone), and infrastructure development (Mahindra GESCO, Mahindra Holidays & Resorts India Ltd., Mahindra World City). With over 60 years of manufacturing experience, the Mahindra Group has built a strong base in technology, engineering, marketing and distribution which are key in its evolution as a customer-centric organization. The Group employs over 40,000 people and has several state-of-the-art facilities in India and overseas. The Mahindra Group has ambitious global aspirations and has a presence in five continents.

Mahindra products are today available in every continent except Antarctica. M&M has one tractor manufacturing plant in China and three assembly plants in the United States. It has made strategic acquisitions across the globe including Stokes Forgings (UK), Jeco Holding AG (Germany) and Schoneweiss & Co GmbH (Germany). Its global subsidiaries include Mahindra Europe Srl. based in Italy, Mahindra USA Inc. and Mahindra South Africa. M&M has entered into partnerships with international companies like Renault SA, France, and International Truck and Engine Corporation, USA. The Group recently made a milestone entry into the passenger car segment with Logan, a product of its JV with Renault SA. Forbes has ranked the Mahindra Group in its Top 200 list of the World's Most Reputable Companies and in the Top 10 list of Most Reputable Indian companies.