Mahindra & Mahindra total sales down 21% to 43,343 units in September

Homegrown auto major Mahindra and Mahindra (M&M), on October 1, reported a 21% decline in total sales at 43,343 units in September. company had sold 55,022 units in corresponding month last year, M&M said in a regulatory filing. In domestic market, sales were down 21% at 40,692 units last month as compared to 51,268 units in September 2018. Exports also registered a decline of 29% at 2,651 units as against 3,754 units in year-ago month.

In passenger vehicle segment, which includes utility vehicles, cars and vans, company sold 14,333 units last month as compared to 21,411 units in same month last year, down 33%. In commercial vehicle segment, company sold 18,872 units as against 22,917 units in same month a year ago, down 18%.

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Future t too grim

Reflecting on sales performance, M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said, "we are positive that this festive season, with onset of Navratra, will augur well for us and automotive industry." This, in addition to factors such as good monsoon and recently, anunced positive government initiatives should help revive industry in short term, he added.

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