M&M Dhanteras sales up 70%, sells 11,500 vehicles

New Delhi: Homegrown utility vehicles major Mahindra & Mahindra on Tuesday said it has posted 70 percent rise to 11,500 units in a single-day sale on Dhanteras, considered auspicious for buying new products and precious metals.

"Post October festive sales have been good for us and on Dhanteras yesterday we sold 11,500 units, which is an increase of 70 percent from what we did on the same day last year," M&M President & Chief Executive (Automotive) Pravin Shah said.

He said models across the company's UV portfolio, XUV500, Scorpio, Bolero and the newly launched TUV300 received good response from the market.

"What has been encouraging for us is that we have done very well in the Hindi belt states of Uttar Pradesh, Madhya Pradesh, Rajasthan and Bihar," Shah said.

On the festive season demand, he said: "It has brought the much-needed cheer to the auto industry."

He said the newly launched TUV300 was sold out on Dhanteras and it has a booking order of 12,000 units.

Car market leader Maruti Suzuki India (MSI) reported sales of over 15,000 units on Dhanteras.

Sharing a bullish outlook, Shah said the auto industry will see better future going ahead.