M&M total sales down 12 pc in February

Tags: Companies
Auto-maker Mahindra & Mahindra today reported 12 per cent decline in its total sales at 42,166 units in February.

The company had sold 47,824 units in the same month previous year, the company said in a statement.

In February, M&M's domestic sales stood at 39,338 units as against 44399 in the same month previous year, down 11 per cent.

Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 19308 units during the month as against 23421 in February 2013, down 18 per cent.

Sales of the company's four-wheel commercial vehicles were down 3 per cent at 14,701 units as against 15,167 units in February 2013, it said.

M&M's exports were down by 17 per cent to 2828 units during the month from 3425 units in February 2013.

Commenting on the sales performance, M&M Chief Executive (Automotive Division) Pravin Shah said: "The Auto Industry has received the much needed boost in terms of an excise duty reduction and this has resulted in higher inquiries over the last one week".

The recently concluded Auto Expo has also been a success which will only help in generating demand, he added.

"At Mahindra we are hopeful that these positive initiatives would be the beginning of a gradual upswing for the auto industry, as we move into the next financial year," Shah said.

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