Mumbai: Mahindra & Mahindra (M&M)’s sales drop by 3% in May 2019 to 45,421 vehicles compared to 46,848 vehicles during May, 2018. Its cumulative sales in April-May period has dropped by 6% to 89142 vehicles as compared to 94,945 vehicles in the corresponding period last fiscal.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 20,608 vehicles in May 2019, as against 20,715 vehicles for the same period last year.
In the Commercial Vehicles segment, the company sold 17,879 vehicles in May 2019, as against 18,748 vehicles in May 2018. In the Medium and Heavy Commercial Vehicles segment, M&M sold 637 vehicles for the month. Exports for May 2019 stood at 2,365 vehicles.
“While consumer sentiment and demand continued to be subdued during the pre-election phase, our focus has been on correcting the channel inventory. Now, with a stable government at the centre and the forecast of a near normal monsoon, we hope to see an improvement in consumer sentiment over the next few months” Rajan Wadhera, President, Automotive Sector, M&M Ltd. Said.