Mahindra and Mahindra’s auto sector sales dipped 10 per cent in September 2013 compared to the same month last year mainly on account of a 21 per cent decline in the sales of its passenger vehicles (UVs and Verito).
The company’s total domestic sales stood at 43,289 units versus 48,342 units, a drop of 10 per cent, while exports at 2,719 units represented a decline of 12 per cent.
Though in comparison to the figures of the previous month (August 2013), M&M sales rose 14 per cent, Pravin Shah, CEO, Automotive Division, M&M, said that the growth was not to the extent to make them comfortable in its approach to the festive season.
The auto industry is in need of a trigger in terms of stimulus to turnaround the sector, he added.
To compensate for the increase in raw material and input costs, as well as the faling rupee, M&M has announced a price increase effective today.