Mahindra and Mahindra has reported 1.65 per cent decline in total sales at 51,149 units in October against 52,008 units in the same month last year.
According to a company statement, domestic sales grew marginally to 48,818 units last month compared with 48,729 in October 2016. Exports declined by 28.91 per cent to 2,331 units in October against 3,279 units in the year-ago month.
Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, dipped by 5.35 per cent to 23,413 units compared with 24,737 units in the same month last year. Commercial vehicle sales increased by 6.76 per cent to 19,279 units(18,059 units).
M&M President, Automotive Sector, Rajan Wadhera, said: “The auto industry has had a mixed month. The build-up to Dhanteras and Diwali was good but the demand tapered off subsequently.”
Last year all festivals were in October and the industry volumes had a high base, he added.
“This year, September and October combined, we have grown by 7.9 per cent in auto division. Going forward we enter into a year-end period of lower sales,” Wadhera said.
The company expects to sustain the growth momentum for the remaining period of the current financial year on the back of refreshes and new variants that have been launched, he said.
Tractor sales
The home-grown auto major has reported 10.88 per cent decline in total tractor sales at 40,262 units in October this year against 45,177 units in the same month last year.
Domestic sales were at 39,226 units as against 43,826 units in the year-ago month, down 10.5 per cent. Exports during the month stood at 1,036 units (1,351 units), down 23.32 per cent.