BackM&M April sales decline 9%
Domestic sales fell 8% year-on-year to 41,603 units in AprilExports declined 26% YoY with dispatches of 2,118 units last month against 2,880 units in April last year
PremiumMumbai: Mahindra & Mahindra (M&M)’s April sales declined about 9% year-on-year (YoY) to 43,721 units, the company said. In the corresponding month a year ago, the company had sold 48,097 units.
Total domestic sales fell about 8% year-on-year to 41,603 units in April. Exports declined 26% YoY with dispatches of 2,118 units last month against 2,880 units in April last year.
Mahindra’s both passenger vehicle (PV) and commercial vehicle (CV) portfolios recorded a decline of 9% YoY in sales in April. While the company reported sales of 19,966 passenger vehicles last month as against 21,927 units in April last year, CV sales stood at 17,323 units last month compared with 18,963 units a year ago.
Utility vehicle segment sales were at 18,848 units as against 20,371 units in April last year, down 7% YoY. In the cars and vans category, M&M sold 1,118 units as against 1,556 units in April last year, a decline of 28%.
Light commercial vehicles (LCV) with gross vehicle weight (GVW) of less than 3.5 tons contributed with sales of 16,284 units in April 2019 as against 17,495 units in April last year, down 7% YoY. Heavy commercial vehicle (HCV) sales fell about 48% YoY to 474 units, the company said.
The company said domestic sales included the sales made by its subsidiary Mahindra Electric Mobility Ltd.
“The ongoing election has subdued the purchase sentiment during April. This, according to us, is a temporary phenomenon. We believe, following the elections, the auto industry will see a revival in consumer demand. Supported by a normal monsoon, we are confident of seeing higher sales in FY20," said Rajan Wadhera, president, automotive sector, M&M reasoning out the decline in sales.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
