The total sales of Mahindra and Mahindra Automotive sector for the month of January 2014 stood at 42,685 units marking a decline of 14% as compared against 49,503 units sold in January 2013. The domestic sales stood at 40,324 vehicles in January 2014 against 47,841 units sold during the same month of previous year, marking 16% decrease. The exports units for January 2014 were 2,361 units; 42% decrease as against 1,662 units during January 2013.
The year to date sales for the April to January period of FY2013-14 stood at 413,374 units against 463,645 units sold during the same period of previous financial year, registering 11% decline. The domestic sales for the period in review were 389,689 units against 437,291 units during same period of previous year, registering 11% decline. Exports for the April-January period of FY 2013-14 slip by 10% at 23,685 units against 26,354 units during the same period of FY 2012-13.
Domestic Sales – Segmentwise
Mahindra’s Passenger Vehicle sales fall by 25% in January 2014 with 19,792 units sold against 26,555 units sold during January 2013. Sales of Four Wheeler Commercial Vehicles including Maxximo, Gio, Genio & Bolero Pick-up grew by 4% at 15,100 units in January 2014 against 14,451 units in January 2013. M&M Three Wheeler segment sales witnessed a decline of 19% in January 2014 with 4,710 units sold against 5,811 units sold in January 2013. Sales for Mahindra Trucks and Bus declined at 29% for January 2014 at 722 units sold against 1,024 units sold during January 2013.
The year-to-date sales of Passenger Vehicles for April to January period of FY 2013-14 stood at 186,414 units, registering decline of 19% as against 230,002 units sold during the same period in FY 2012-13. The year-to-date sales for Four Wheeler Commercial Vehicles including Maxximo, Gio, Genio & Bolero Pick-Up registered 2% growth which stood at 145,237 units against 141,854 units sold in April-January period of FY 2012-13. The sales for April to January period of FY 2013-14 for Three Wheeler Segment declined by 8% at 51,585 units against 55,876 units in same period of FY 2012-14. The year to date sales for Trucks and Bus were 6,453 units as against 9,559 units during same period of FY 2012-13, registering 32% de-growth.
Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “The first month of 2014 did not witness any improvement in the overall industry performance and the situation remains subdued. The recent Repo Rate hike will in coming months escalate the rate of interest on car loans impacting consumer sentiment. We hope the upcoming Auto Expo which will showcase new products and technology, will provide a trigger in giving a much needed boost to the auto industry and overall sentiment.”
