Domestic SUV major Mahindra & Mahindra today reported its sales number for the month of October. In October the company sold 18,460 passenger vehicles, down 23 percent YoY.
In terms of SUV sales the company reported sales of 17,785 units, down 20 percent YoY in October. For the period of April-October 2019, Mahindra sold a total of 116,778 SUVs which turned out to be a decline of 13 percent in comparison to its sales in the same period in 2018. Its cars and vans segment that consists of the Mahindra Verito and the Mahindra Verito Vibe sold 675 units, which is 62 percent less as compared to its 2018 figures (October 2018: 1,787 units).
Comparing with the September 2019 figures, Mahindra sold 4,127 more units of passenger vehicles in October 2019 (September 2019: 14,333), registering a growth of 28.7 percent. Similarly, the SUV sales increased by 3,927 units in October 2019 as compared to September 2019 (13,858 units), registering a growth of 28.3 percent.
Veejay Ram Nakra, chief of sales and marketing, automotive division, M&M said, “The festive month of October 2019 was excellent for Mahindra, with retail volume exceeding wholesale by approximately 40 percent. This robust retail performance was contributed by both passenger & commercial vehicles. Further, our billing numbers are in line with what we had planned for the month, since the objective was to significantly correct our channel inventory. We hope to see the positive consumer sentiment continue going forward.”