Mahindra March vehicle sales up 12 pc to 16,394 units

New Delhi, Apr 4: India's largest utility vehicle maker Mahindra&Mahindra Ltd (M&M) today said its March sales rose 12 per cent to 16,394 units from 14,629 last year.

Domestic sales, including all segments, increased 11 per cent to 15,578 units from 14,025 units a year earlier.

Exports went up 35 per cent to 816 units from 604 units.

Mahindra, also the country's top tractor maker, sold 7,326 tractors in March, up 16 per cent from 6,295 units sold a year earlier.

M&M has said it will invest Rs 100 crore to expand the production capacity of its Nashik plant to 570 vehicles a day over the next 18 months.

It has also, through its joint venture with US-based International Truck and Engine Corporation, announced plans to infuse Rs 400 crore over the next three years for manufacturing commercial vehicles in India.

M&M has recently been on an acquisition spree. After announcing plans to assemble pick-up trucks in Malaysia from next year, the company is also looking to acquire two auto-parts firms in Europe and one in India.

UNI