Sales for Mahindra and Mahindra fell by six per cent in September with figures of 39693 units sold for the month. This number includes all the vehicles from the company line up – passenger, LCV, three wheelers and utility vehicles as well.
According to President and Chief Executive (Automotive), M&M Ltd. Pravin Shah, the recent rate reduction in interest by RBI will help infuse more optimism in the economy and this will help the auto industry come back faster from what has been a slow and fragmented recovery. According to him, if the banks pass on this rate cut to customers then this would bring significant momentum into the industry with more and more customers looking to buy cars particularly considering that this will be the festive season. The exports at Mahindra also seem to be doing well with a growth of 26 per cent and a 184 per cent growth in the MHCV segment as well. The TUV300 which Mahindra launched in September has also had a fairly good response according to the company and it is banking on this to improve overall performance.
Presently, Mahindra has had passenger vehicles sales drop by 7 per cent and has lost quite a portion of their market share. The company hopes to get this back with the launch of a number of new vehicles for the market here in India. The company had launched the TUV300, which has been making waves and will be one of their models to look out for.