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Mahindra & Mahindra (M&M) auto sales fell 21.17 per cent to 37,096 vehicles in July, compared with 47,059 units sold during the same month a year ago.
The company’s passenger vehicles segment sales fell to 15,530 units during the month under review, as against 22,011 vehicles sold in July 2012. Its domestic sales stood at 34,490 units in July 2013, as against 42,799 units during July 2012.
The four-wheeler commercial segment, which includes passenger and load vehicles, sold 13,740 units, while the three-wheeler segment clocked 4,490 units. Exports for the month stood at 2,606 units.
“Over the last few months, the auto industry has been going through one of its worst phases of the last decade with planned shutdowns being taken by companies to correct demand-supply mismatch,” Pravin Shah, Chief Executive, Automotive Division, M&M said.
"The industry is in desperate need of immediate stimulus from the Government. With interest rates remaining unchanged and the rupee plunging to new lows, lowering of excise duty is the need of the hour, which would rev up demand for auto products leading to the festive season,” he added.
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