Mahindra’s January auto sales down 9%, tractors up 3%
Mumbai: Utility vehicles sales at Mahindra & Mahindra Ltd dropped 9% to 20,096 units as compared to a year ago period, the company said in a statement on Wednesday. The company’s overall domestic auto sales, including commercial vehicles and three wheelers, during the month also contracted 9% to 37,042 units over the last year.
“The auto industry continues to see mixed reactions and some of the segments including the rural market and the commercial vehicles category continue to face challenging times,” said Pravin Shah, president and chief executive for the automotive business at the firm. Shah expects the announcements made at the union budget today to bode well for the economy and also the industry especially in view of the emphasis and the allocations made for rural, agri and infrastructure sectors. “We are confident that this will lead to a spur in demand,” he said.
Meanwhile company’s tractor sales in January rose 3% to 14,776 units over the last year. Rajesh Jejurikar, president and chief executive - farm equipment and two wheeler division at the firm expects positive environmental factors including higher Rabi sowing and better minimum support price to drive demand in coming months.