Mahindra, India's largest sport-utility vehicles and tractors manufacturer , reported a net profit of 8.36 billion rupees ($156 million) for the period of third fiscal quarter as compared to last year's 6.62 billion rupees .Their Sales has grown up by 29% to 106.43 billion.
We have seen a sudden demand of Mahindra's SUV which are powered by diesel, despite a weak local auto market whose sales are going down constantly due to slow economy and hike fuel prices.This is a miracle that they are making big profit even in such conditions.
According to market research Consumer preference has now shifted toward diesel vehicles, as the diesel fuel is much cheaper than patrolium. The government controls diesel prices as the fuel drives trucks and trains, and has higher impact on inflation than other fuel resources.
Mahindra sold 70,483 utility vehicles in the past quarter, up 36% over a year earlier. Sales of tractors remained almost flat at 62,522 units.
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