Mahindra’s Auto Sector sales drop 25% to 36,085 vehicles during August

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Mumbai : Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group has reported 25% drop in its overall sales at 36085 units against 48324 units in August 2018.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 13,507 vehicles in August 2019, compared to 19,758 vehicles in August 2018, a drop of 32%. In the Commercial Vehicles segment also,  the company sold 14,684 vehicles in August, as against 20,326 vehicles in August 2018, a drop of 28%. In the Medium and Heavy Commercial Vehicles segment, Mahindra sold 354 vehicles for the month. Exports for August 2019 stood at 2,521 vehicles. The company’s Auto Sector overall sales (Domestic + Exports) stood at 36,085 vehicles in August 2019, compared to 48,324 vehicles during August 2018.

“The auto industry continues to be subdued in the month of August due to several external factors. We are optimistic and hopeful of a good festive season going ahead” Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said.

The company has witnessed drop in sales in its  Farm Equipment Sector (FES) also. Domestic sales in August 2019 were at 13,871 units, as against 16,375 units during August 2018, registering a drop of 15%. Total tractor sales (domestic + exports) during August 2019 were at 14,817 units, as against 17,785 units for the same period last year. Exports for the month stood at 946 units.

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