Mahindra and Mahindra is one of the leading automakers in India. It is a trend setter in the country for its utility as well as commercial vehicles. In its report, Mahindra has stated that it has faced a loss of around 8% in the month of June 2013. The company had sold a total of 41,332 units in the month of June last year but this year they have recorded a sale of only 38,092 units, in June.
Mahindra and Mahindra has suffered a loss in the domestic market the most. It has sold over 38,951 units within the country last year in the month of June but in June 2013 the sales have dropped to a total of 36,207 sold units which is a decrease of 7.04%. Talking about the sales of its passenger cars which includes its Scorpio, Bolero, Xylo, XUV500 and Verito they have recorded a decrease in sales of about 12.3%. Last year the sales of its passenger vehicles, in June, have been 19,792 units but in 2013 the sales have dropped to 17,232 units only.
The commercial vehicles have proved to be profitable this month for Mahindra and Mahindra. Its commercial vehicles including mini trucks – Maxximo and Gio, have seen a rise in sales by 5% in the month of June 2013. They sold this year a total of 13,761 units.
The company saw a reduction in sales in the three wheelers section as well. This year the company sold a total of 4,303 units which is 11% less than June, last year. In June 2012 it had sold a total of 4,836 units.
Not only the domestic but the international market has also betrayed Mahindra and Mahindra this time. M&M has reported a decrease of around 20% in its export in June 2013 by exporting only 1885 units. In June 2012 it had exported a total of 2,371 units globally.
The chief executive of Automotive Division at Mahindra and Mahindra Ltd, Pravin Shah, said the following while presenting his monthly performance, “We have witnessed a de-growth in the month of June 2013 amidst an overall decline in the auto industry. The depreciating rupee resulting in spiraling fuel costs coupled with high interest rates and the additional excise duty on SUVs has further dampened the industry without any substantial revenue to Government. Going forward, we do hope that some immediate short term measures are announced and implemented by the Government to bring back buoyancy in demand which is the need of the hour”.