M&M sales down 5 percent in January

Mahindra & Mahindra (M&M) has reported total domestic sales of 18,804 passenger vehicles in January 2015, down 5 percent (January 2014 : 19,792) year on year.

Speaking on the monthly performance, Pravin Shah, chief executive, Automotive Division, M&M, said, “The first month of 2015 has not been encouraging as the effect of withdrawal of excise duty subsidy is clearly evident. Unfortunately, the segmented recovery which we were witnessing over the last couple of months has been impacted with the excise duty change. We do hope that the upcoming Union Budget has some positive news for the auto sector. At Mahindra we are happy with the performance of our exports as well as our Trucks & Bus Division.”  

For the month, overall total domestic sales combining US and cars, commercial vehicles, three-wheelers and trucks and buses comprised 37045 units, down 8 percent year on year (Janaury 2014 : 40,324. In January 2015, the truck and bus division company sold 796 units, registering a growth of 10 percent (January 2014: 722).

Exports for the month stood at 2,885 units, registering a growth of 22 percent year on year.