The total sales for Mahindra and Mahindra in Automotive sector for the month of May 2014, stood at 37,869 units recording a decline of 13% as compared against 43,460 units sold in May 2013. The domestic sales for May 2014 stood at 35,499 vehicles against 42,104 units in May 2013, marking a 16% drop. The exports units for the month were 2,370 units; 42% increase as against 1,356 units during May 2013.
Total automotive YTD registered 13% declines, export is registered 58% de growth.
Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, "Auto sales continue to remain subdued for many players, at the back of yet another challenging month for the industry. Post the electoral mandate, we expect to see improved sentiments resulting in a better economic situation which we hope will lead to a gradual increase in demand. We are happy to have achieved a growth of 75% in our export volumes during May".
Mahindra Two Wheeler has shown strong growth with 131%.
Speaking on the monthly performance, Viren Popli, Chief of Operations, Mahindra Two Wheelers said, “We are happy to maintain the demand momentum of our 2-wheeler division during May 2014 with a growth of 131% in the domestic market, which is indicative of the growing acceptance of our product portfolio especially our flagship brand, the Centuro. With a positive upsurge in socio-economic sentiments and on the back of improved demand, we hope to remain on the growth trajectory going ahead”.
Sales of Mahindra's tractors in the domestic market rose 3 percent in May 2014. Commenting on the monthly performance, Rajesh Jejurikar, Chief Executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd. said, "We have registered a sale of 23132 tractor units in the domestic market during May 2014. We do hope that the onset of monsoon would add buoyancy to the farmers’ morale and lead to growth in the agricultural sector".
Source: ACG, Company