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M&M Ltd. riding low tunes of industry, posted negative sales figures last month

Riding the lows of industry, Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, managed to post its auto sales at 37,897 units which stood at 45,836 units during August 2012.

The Passenger Vehicles segment (which includes the UVs and Verito) sold 15,821 units in August 2013, as against 21,831 units during August 2012. The company’s domestic sales stood at 35,159 units during August 2013, as against42,826 units during August 2012. The 4 wheeler commercial segment which includes passenger and load vehicles sold 13,718 units, while the 3 wheeler segment clocked 5,149 units in August 2013. Exports for the month of August 2013 stood at 2,738 units.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “The auto industry which is currently going through one of its most challenging phases, is in desperate need of some short-term fiscal stimulus. The weakening rupee, resulting in increased inflation, is impacting cost of operations. Immediate action by the government is needed so as not to lose out on the upcoming festive season wherein sales could look up and bring some cheer for the auto industry and add additional revenue to the government.”

M&M Ltd. riding low tunes of industry posted negative sales figures last month

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