Banking high on the growth of products like Xylo, Gio and Maxximmo, M&M has been able to hit the sweet spot of the Indian consumer. A part of the $6.3 billion conglomerate, the automotive business has been able to reap rich dividends for the company over the past few months in the domestic circuit.

The company's domestic sales stood tall at 25037 units, as against 22617 units in April 2009 filing an increase of 11% in the Indian market.

However, similar to what the results of its tractor sales have shown, exports have grown by a whopping 121% in the month of April. Perhaps the discount offered to the Logan prospective buyers hasn't been able to transform into real sales as the sales of Logan fell to around 300 units as compared to the 500 units in the corresponding period last year.

Notably, Mahindra has recently picked up the stake of Renault in the JV agreement between the two parties and plans to relaunch the product with a new name under the Mahindra badge next year in the Indian market.