Mahindra & Mahindra PV sales down 6.8% in May

Mahindra & Mahindra’s passenger vehicles division (which includes UVs, cars and vans) has reported sales of 18,135 units in May 2015 as against 19,470 units during May 2014, down 6.86%.  

Commenting on the sales in May, Pravin Shah, president and chief executive (Automotive), Mahindra & Mahindra, said, “The auto industry has been showing signs of recovery and it is important that factors like an interest rate cut if considered, would accelerate growth. At Mahindra we hope to see improved sentiments with higher level of economic activities and the launch of our new XUV500 which has received a good initial response. We are also happy with a 41% growth in our exports last month.”