Mahindra & Mahindra Ltd.

BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3129.15
43.90 (1.42%)
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M&M raises prices of some vehicles by 0.5%

Date: 01-07-2013

On account of increased output costs, Mahindra & Mahindra (M&M), the country's largest sports utility vehicle (SUV) maker has raised prices of some vehicles by an average 0.5%, effective July 1. This announcement comes on the day when the company reported disappointing June sales number.

The company’s auto sales numbers for June 2013 slid by 7.82% at 38,092 units as against 41,322 units during June 2012. Passenger Vehicles segment (which includes the UVs and Verito) registered a drop of 12.93%, having sold 17,232 units in June 2013, as against 19,792 units during June 2012.

The company’s domestic sales stood at 36,207 units during June 2013, as against 38,951 units during June 2012. The 4 wheeler commercial segment which includes the passenger and load vehicles registered a 5% growth, having sold 13,761 units, while the 3 wheeler segment clocked 4,303 units in June 2013. Exports for the month of June 2013 stood at 1,885 units.