Mahindra’s PV sales down 32 percent in November

December 2, 2013: Mahindra & Mahindra, like a number of other automakers in India, is getting the blunt end of the slowdown. The manufacturer has announced that it has sold 16,771 passenger vehicles (UVs and Veritos) during November 2013, down 32 percent over the 24,604 units sold in November 2012.

Overall, the company’s domestic sales stood at 36,261 units during November 2013 as against 46,755 units during November 2012, down 22 percent. The company’s commercial 4-wheelers, which includes the Maxximo, Gio, Genio and Bolero Pick up, sold 13,186 units (November 2012: 14,353), down by 8 percent, while the 3-wheeler segment posted sales of 5,861 units (November 2012: 6,867), down 15 percent. Mahindra Trucks & Buses sold a total of 443 units in November 2013, down 52 percent (November 2012: 931). The only growth the manufacturer saw last month was in its overall exports: it shipped 2,994 units, representing a 116 percent increase, albeit on a low base (November 2012: 1,388).

Speaking on the monthly performance, Pravin Shah, chief executive, Automotive Division, M&M. said, “After he festive season month of October, the auto industry has turned to further de-growth and continues to remain subdued. Unless some concrete measures are provided for its revival, we do not foresee any immediate turnaround. Factors such as increase in input costs and the depreciating rupee have not helped in any way. At Mahindra, we continue to focus on operational excellence to augment our overall performance and remain cautiously optimistic of the situation.”