Mahindra & Mahindra Ltd’s (M&M) auto sales fell 12 per cent to 36,274 vehicles in April 2014, compared with 41,432 units sold during the same month a year ago.
During the month under review, the company sold 18,148 passenger vehicles (20,748 units in April 2013), while its domestic sales fell to 34,107 units (39,902 vehicles).
The four-wheeler commercial segment sold 11,677 units, while the three-wheeler segment clocked 3,532 units in April 2014.
"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. We do hope that post the general elections, sentiment improves leading to a better economic situation and hence increased demand,” Pravin Shah, Chief Executive, Automotive Division at M&M said.
M&M’s exports rose 42 per cent to 2,167 units, from 1,530 vehicles sold during the same period a year ago.
“We are happy with our exports performance and we continue to be optimistic going forward as we expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives,” Shah added.