Mahindra’s auto sector sells 37,096 units in July, down 21 percent

August 1, 2013: Mahindra & Mahindra has announced its auto sales numbers for July 2013 which stood at 37,096 units as against 47,059 units (including exports) in July 2012, a fall of 21 percent.

M&M’s passenger vehicles segment (which includes the UVs like the Bolero and others, and the Verito) sold 15,530 units in July 2013, as against 22,011 units during July 2012, a fall of 29 percent. In June, M&M had launched a sub-four-metre version of the Verito, the Verito Vibe.

Overall, M&M’s domestic sales stood at 34,490 units in July 2013, as against 42,799 units during July 2012, down 19 percent. The company’s four-wheeler commercial vehicles which include passenger and load vehicles sold 13,740 units, while the three-wheeler segment clocked 4,490 units in July 2013. Exports for July 2013 stood at 2,606 units as against 4260 units in July 2012, down 39 percent.

Pravin Shah, chief executive, Automotive Division, M&M, said, “Over the last few months, the auto industry has been going through one of its worst phases of the last decade with planned shutdowns undertaken to correct demand-supply mismatch. The industry is in desperate need for an immediate stimulus from the government. With interest rates remaining unchanged and the rupee plunging to new lows, lowering of excise duty is the need of the hour which will rev up demand for auto products, leading up to the festive season.”

While M&M’s auto scene is in slowdown mode, its Farm Equipment Sector (FES) announced that sales stood at 17,771 units in the domestic market for July as against 15,495 units in July 2012, up 15 percent. Overall sales have also grown by 12 percent to 18,469 units in July 2013. Exports for the month stood at 698 units. Rajesh Jejurikar, chief executive, Tractor and Farm Mechanisation, said, “The second quarter of 2013-14 has begun well and we are happy with our domestic volume of 17,771 units. The monsoon this year has been normal, which augurs well for the farm sector.”

India’s tractor segment is seeing unprecedented growth in the current fiscal and all players are making the most of it.