Mahindra & Mahindra have had a fabulous Dhanteras according to industry sources with a rise in vehicle sales to the tune of 70%. The TUV300 has outperformed expectations with more than 12,000 bookings as well.
Mahindra & Mahindra has been able to cash in on the festive excitement surrounding Dhanteras, an auspicious day for purchasing new products and metals. Mahindra & Mahindra released figures of 11, 500 vehicles in overall sales in the domestic market. This represents a growth of 70% for the automotive giant in comparison to sales on Dhanteras in 2014. High sales were generated on the back of growing demand for the TUV300, XUV500, Bolero and Scorpio. Sales have been on an upswing over the last two months for most vehicle companies.
According to the President & Chief Executive, Automotive at Mahindra & Mahindra, Pravin Shah, stable prices of fuel and lower rates of interest have contributed to positive sentiments amongst Indian buyers. While the TUV300 witnessed unprecedented demand with more than 12, 000 bookings and huge demand for the AMT variant, the Bolero recently became the highest selling SUV in October 2015. The company has garnered huge response from states like Madhya Pradesh, Bihar, Rajasthan and Uttar Pradesh.
Mahindra & Mahindra has posted growth results of 19% for passenger vehicle sales in October at 24, 060 units and the Dhanteras figures should be welcome news for the company after a drought till the first half of the year. Mahindra is now looking at keeping momentum intact with newer variants and customer add-ons to enhance the overall buying experience according to company sources. The company is pleasantly surprised with the success of innovations like the TUV AMT variant and hopes to introduce more such pioneering models in the near future.