M&M sales down 27 percent in August

Mumbai, September 2, 2013: The slowdown is biting and how. Mahindra & Mahindra (M&M) has reported that its Passenger Vehicles division (which includes UVs, the Verito and the Verito Vibe) has sold 15,821 units in August 2013 (August 2013: 21,831 units), down 27.53 percent.

Commenting on the performance, Pravin Shah, chief executive, Automotive Division, Mahindra & Mahindra, said, “The auto industry, which is currently going through one of its most challenging phases, is in desperate need of some short-term fiscal stimulus. The weakening rupee, resulting in increased inflation, is impacting cost of operations. Immediate action by the government is needed so as not to lose out on the upcoming festive season wherein sales could look up and bring some cheer for the auto industry and add additional revenue to the government.”

The company’s total domestic sales for August 2013 were 35,159 units during August 2013 (August 2012: 42,826 units), down 18 percent year on year. The four-wheeler commercial segment, which includes passenger and load vehicles, sold 13,718 units (August 2012: 14,267), down by 3.85 percent, while the three-wheeler segment sold 5,149 units in August 2013 (August 2012: 6,004), down 14.24 percent. Exports during August 2013 comprised 2,738 units (3,010), down 9 percent.