Mahindra & Mahindra sells 18,085 units in May, down 18 percent

Mahindra & Mahindra (M&M) continues to feel the pressure of the slowdown in the domestic market, across all the vehicle segments it is engaged in. In the passenger vehicle segment, in May 2014, the manufacturer has reported sales of 18,085 units comprising utility vehicles and the Verito and Verito Vibe passenger cars, down 18.70 percent on year-ago sales (May 2013: 22,244 units).

Its overall domestic sales including passenger vehicles, commercial four-wheelers, three-wheelers and trucks and buses were 35,499 units (May 2013: 42,104), down 15.69 percent.

M&M sold 12,836 commercial four-wheelers last month, down 13.55 percent (May 2013: 14,848) and 3,732 three-wheelers, down 7.35 percent (May 2013: 4,028). Mahindra Trucks & Buses sold 846 vehicles in May 2014, down 14.02 percent (May 2013: 984)

The sole positive for the month was in exports where the company shipped 2,370 units (May 2013: 1,356), up 75 percent.

Commenting on the sales, Pravin Shah, chief executive, Automotive Division, M&M, said, "Auto sales continue to remain subdued at the back of yet another challenging month for the industry. After 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.”

Also read: Economic revival is the need of the hour, says M&M’s Dr Pawan Goenka
http://bit.ly/1m4Hkae