Mahindra passenger cars sales decline 28% for August 2013
Mahindra & Mahindra Ltd continues to be dealt a serious blow with auto sales numbers for August 2013 at 37,897 units as against 45,836 units in August 2012. This equates to 17% sales decline for the month gone by.
4 wheeler commercial segment which includes passenger and load vehicles sold 13,718 units as against 14267 units in August 2012 resulting in 4% sales decline. The 3 wheeler segment clocked 5,149 units in August 2013 when compared to 6004 units in August 2012 marking 14% sales decline. Exports for the month of August 2013 stood at 2,738 units when compared to 3010 units in august 2012. This equates to 9% sales deline. In all, M&M Ltd reported sales decline in every auto segment they operate in for August 2013.
The need for short-term fiscal stimulus is becoming a necessity. The weakening rupee and increased inflation has effected cost of operations. Government intervention can help consolidate and pump up sales during the upcoming festive season to add some positive numbers in the continual auto industry depression and revenue loss.