Mahindra sees about 10 pct rise in 09 sector sales

LONDON, July 3 (Reuters) - India's Mahindra & Mahindra Ltd (MAHM.BO: Quote, Profile, Research) sees around 10 percent growth in Indian makers' sales of utility vehicles and tractors in the fiscal year from April and expects its own sales to exceed that, a top executive said.

Bharat Doshi, Mahindra's chief financial officer and executive director, forecast a 10 to 12 percent rise in sales of utility vehicles, such as SUVs, and an 8 to 10 percent increase in sales of tractors across the industry in the new year.

"We hope to do better than that," Doshi said on the sidelines of India-Europe Investment Forum in London on Thursday.

He declined to specify the forecast growth in Mahindra's sales. "We are improving our market share," he added.

Pawan Goenka, who heads Mahindra's automotive unit, said in April the company expected to post a double-digit expansion in the new year, albeit below the 30 percent growth it recorded in its vehicle sales in the 11-month period to February.

Firm interest rates, high prices of commodities such as steel and concerns about slower economic growth would continue to weigh on vehicle demand in India, where passenger vehicle sales are forecast to nearly double to 2 million units by 2010.

Mahindra is India's top utility vehicle and tractor maker. (Reporting by Olesya Dmitracova; Editing by Paul Bolding)