Companies

Mahindra & Mahindra sales drop 3 per cent to 45,421 units in May

PTI | | Updated on: Jun 01, 2019
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Auto major Mahindra and Mahindra (M&M) on Saturday reported 3 per cent decline in total sales at 45,421 units in May. The company had sold 46,848 units in the same month last year, M&M said in a statement.

In the domestic market, sales were down 1.7 per cent to 43,056 units last month compared to 43,818 units in May 2018. Exports dropped by 21.9 per cent to 2,365 units as against 3,030 units in the year-ago month.

In the passenger vehicles segment -- which includes UVs, cars and vans -- it sold 20,608 vehicles in May this year, against 20,715 vehicles in the same month last year. In the commercial vehicles segment, the company sold 17,879 vehicles as against 18,748 units earlier. In the medium and heavy commercial vehicles segment, M&M sold 637 vehicles for the month.

“While consumer sentiment and demand continued to be subdued during the pre-election phase, our focus has been on correcting the channel inventory,” said Rajan Wadhera, President, Automotive Sector, M&M Ltd. “Now, with a stable government at the centre and the forecast of a near normal monsoon, we hope to see an improvement in consumer sentiment over the next few months,” he added.

Published on June 01, 2019

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