Led by a surge in the demand for diesel-powered SUVs in the last 12 months, homegrown utility vehicle major Mahindra and Mahindra has overtaken “big brother” Tata Motors to become the third largest passenger vehicle manufacturer in 2012-13.
Mahindra Quanto prices may start at Rs. 6 lakh
In effect, it has also become the largest Indian car maker, at least for the year, as Maruti and Hyundai retained their hold on the top two slots.
Mahindra sold 279,270 units of its range of SUVs that includes the Bolero, Scorpio, Quanto, Xylo and XUV5OO, and a single car, the Verito, in 2012-13, growing almost 27%.
In contrast, Tata Motors saw a decline in sales of more than 29% to 222,112 units during the fiscal. It sold over 90,000 fewer vehicles during the year.
Tata’s free fall has only worsened as the fiscal drew to a close. In February and March, it was behind even Toyota, slipping to the fifth spot in the list.