Mahindra auto reports 10% sales decline for FY 2013-14

Mahindra & Mahindra Ltd. (M&M Ltd.) reports March 2014 auto sales numbers of 51,636 units. Passenger Vehicles segment (UVs and Verito) sold 23,433 units in March 2014. When compared with 25,847 units sold during March 2013, this equates to 9% sales decline. Domestic sales stood at 48,490 units during March 2014, as against 49,225 units during March 2013.

Mahindra-XUV500-SUV-cheetah4-wheelers commercial segment reports 17,649 units sold. 3-wheelers segment clocked 6,305 units in March 2014. Exports were reported at 3,146 units, which equates to 17% growth. FY 2013-14 sales are reported at 5,07,176 units as against 5,63,373 units in FY 2012-13 equating to 10% sales decline for the year.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “Post the reduction in the excise duty across all segments, the auto industry has seen the level of inquiry going up, but has not witnessed any major surge in sales. We do hope that the sentiments improve and change post the national elections, leading to an increase in demand as well. At Mahindra, we are happy with our overall performance for the month of March where the de-growth is negligible at 0.5%. Going forward, we continue to be optimistic for the future and expect to witness a growth momentum during FY 2014-15.”

Mahindra auto reports 10 percent sales decline for FY 2013-14