The total sales for Mahindra and Mahindra in Automotive sector for the month of April 2014, stood at 36,274 units recording a decline of 12% as compared against 41,432 units sold in April 2013. The domestic sales for April 2014 stood at 34,107 vehicles against 39,902 units in April 2013, marking a 15% drop. The exports units for the month were 2,167 units; 42% increase as against 1,530 units during April 2013.
Segment-wise Sales Overview
Mahindra’s Passenger Vehicle sales fall by 13% in April 2014 at 18,148 units sold against 20,748 units sold during April 2013. Sales of Four Wheeler Commercial Vehicles including Maxximo, Gio, Genio & Bolero Pick registered 19% decrease at 11,677 units in April 2014 against 14,414 units in April 2013. M&M Three Wheeler segment sales witnessed a drop of 12% for April 2014 with 3,532 units sold against 4,036 units sold during April 2013. Sales for Mahindra Trucks and Bus registered 7% growth for April 2014 at 750 units sold against 704 units sold during April 2013.
Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “It is unfortunate that the auto industry has not seen an upturn over the last couple of months in spite of a reduction in excise duty. We do hope that post the general elections, sentiments improve leading to a better economic situation and hence increased demand. At Mahindra, we are happy with our Exports performance for the month and we continue to be optimistic going forward and expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives”.
Source – ACG, Company