Mahindra Auto 12% sales decline in April 2014

Mahindra & Mahindra Ltd. (M&M Ltd.) sold 36,274 vehicles through April 2014. In the passenger vehicles segment, M&M sold 18,148 units in April, 2014, as against 20,748 units during April 2013 equating to 13% sales decline.  The company’s domestic sales stood at 34,107 units during April 2014, as against 39,902 units during April 2013 equating to 15% sales decline.

Mahindra Auto sales 2014 AprilThe 4-wheelers commercial segment has sold 11,677 units as against 14414 units sold in April 2013 equating to 19% sales decline. In the 3-wheelers segment, Mahindra reports 3,532 units sold  in April 2014 as against 4036 units sold in April 2013 equating to 12% sales decline.

Exports for the month stood at 2,167 units, a growth of 42% as gainst 1530 units exported in April 2013.MTBL sales stood at 750 units in April 2014. When compared to 704 units sold in April 2013, this equates to 7% sales growth. Overall sales for M&M stahnd at 36274 in April 2014. When compared with 41432 units sld in April 2013, it equates to 12 % sales decline.

Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, ‚ÄúIt is unfortunate that the auto industry has not seen an upturn over the last couple of months in spite of a reduction in excise duty. We do hope that post the general elections, sentiments improve leading to a better economic situation and hence increased demand. At Mahindra, we are happy with our Exports performance for the month and we continue to be optimistic going forward and expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives‚ÄĚ.