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Mahindra and Mahindra, an Indian multinational car manufacturer announced its sales performance on Wednesday for the passed October month. Last month, the auto major witnessed a drop of 2 percent in its overall sales with dispatched 51,149 units as against 52,008 units sold out in the corresponding month last year.
From the mentioned sales figures, 23,413 units fall in the Passenger Vehicles segment which comprises UVs, Cars and Vans. in this same segment, the company indexed the total sales of 24,737 units in October 2016 which also showcases the downfall during last month.
While, a minimal hike (negligible) is seen in the company’s domestic sales with sold out 48,818 units that was 48,729 units during October 2016.
In the Medium and Heavy Commercial Vehicles segment, M&M with a growth of 59 percent disposed 748 vehicles for the month. On the flip of the coin, the export market of the same observed a decline of 29 percent with 2,331 units.
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Mr. Rajan Wadhera, President, Automotive Sector, M&M, while announcing monthly performance said, “The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently. Last year, all festivals were in the month of October and the industry volumes had a high base. This year, September and October combined, we have grown by 7.9 per cent in auto division.”
“Going forward, we enter into a year-end period of lower sales. Our refreshes and new variants, that have been launched, will carve out a niche and we expect to sustain the growth momentum for the remaining period of the current financial year.”
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