M&M sales decline 12% to 36,274 units in April

Tags: M&M, Cars
Automaker Mahindra & Mahindra today reported 12 per cent decline in total sales at 36,274 units in April.

Mahindra & Mahindra (M&M) had sold 41,432 units in the same month last year, the company said in a statement.

In April, M&M's domestic sales stood at 34,107 units as against 39,902 units in the same month of previous year, down 15 per cent.

Total sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 18,148 units during the month as against 20,748 in April 2013, down 13 per cent.

Sales of the company's four-wheel commercial vehicles were down 19 per cent at 11,677 units as against 14,414 units in April 2013, it said.

The company's exports were up 42 per cent to 2,167 units during the month from 1,530 units in April 2013.

M&M Chief Executive (Automotive Division) Pravin Shah said: "It is unfortunate that the auto industry has not seen an upturn over the last couple of months in spite of a reduction in excise duty."

The company expects that post the general elections, sentiments would improve, leading to a better economic situation and hence increased demand, he added.

"At Mahindra, we are happy with our exports performance for the month and we continue to be optimistic going forward and expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives," Shah said.

EDITORIAL OF THE DAY

  • Allow 100 per cent FDI in asset reconstruction companies

    The asset reconstruction business is 13 years old and still struggling like a toddler.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Rajgopal Nidamboor

From complexity to prudent adaptability

It is a travesty that a host of new, strikingly ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture