Mumbai: Going with the industry trend Mahindra & Mahindra Ltd. (M&M Ltd.) has reported 16% drop in its domestic sales at 37474 units in July, as compared to 44,605 vehicles in July 2018. Overall the company’s sales have dropped by 15% to 40142 units, as compared to 47199 units in July 2018.
In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 16,831 vehicles in July 2019, compared to 19,781 vehicles in July 2018.
In the Commercial Vehicles segment, the company sold 15,969 vehicles in July 2019, as against 19,284 vehicles in July 2018. In the Medium and Heavy Commercial Vehicles segment, Mahindra sold 417 vehicles for the month. Exports for July 2019 stood at 2,668 vehicles.
“The headwinds faced by the automotive industry continue as a result of subdued consumer sentiment, triggered by various factors. The industry needs stimuli to help revive consumer demand and conversions. We hope that the overall buying sentiment will improve in the run-up to the festive season and with the monsoon turning out to be better than initially anticipated” Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said.