By Mahindra’s sales report for July, the company recorded 15% drop in overall sales of passenger and commercial vehicles but saw 3% growth in exports.
Mahindra and Mahindra have announced their sales report for the month of July and as is the trend in the industry, yet again Mahindra has recorded a de-growth. They have recorded a 15% decline in sales numbers, cumulative sales including passenger and commercial vehicles standing at 40,142 units of vehicles, compared to 47,199 vehicles that were sold in July 2018.
In the domestic market, Mahindra recorded a decline of 16%, selling 37,474 units of vehicles in July 2019, compared to the 44,605 units sold during the same period, last year. Mahindra however did record a growth in exports by a considerable 3%, exporting 2,668 units, against the 2,594 vehicles that were exported last year.
In the passenger vehicle segment, the numbers were 16,831 units of vehicles in July 2019, compared to 19,781 units that were sold in July, 18. That’s a decline of 15%. In the utility vehicle segment, Mahindra sold 16003 units as against the 17879 units sold during the same month last year. In the cars and vans category which includes the likes of the Mahindra e2o Plus and the e-Verito, Mahindra recorded the most significant decline of 56%, selling only 828 units, as compared to 1,902 vehicles sold in July 2018.
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Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M said, “The headwinds faced by the automotive industry continue as a result of subdued consumer sentiment, triggered by various factors. The industry needs stimuli to help revive consumer demand and conversions. We hope that the overall buying sentiment will improve in the run-up to the festive season and with the monsoon turning out to be better than initially anticipated.”
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In the commercial vehicle segment, Mahindra recorded a de-growth of 17% with 15,969 units of vehicles sold in July 2019 when compared to 19,284 units of vehicles sold in July 2018. The Medium and Heavy Commercial Vehicles segment saw an even massive drop by 52%, selling only 417 vehicles as compared to 866 units sold in July 2018. The three-wheeler segment also dropped by 16%, selling 4,674 units in contrast to 5,540 units sold during the same month last year.
