This is one of the lowest ever monthly passenger car sales reported by Mahindra
In a month where great forces have been tried and tested, it’s no surprise that manufacturing activity has been hit across verticals. Total Mahindra Auto sales has contracted 88 percent to 7,401, down from 62,952 units.
FY20 total sales fell 22 percent, down to 4,76,043 units from 6,08,596 units. Passenger vehicle sales decline percent is the same. At 88 percent decline, PV sales fell to 3,384 from 27,646 units. PV sales for the FY fell 27 percent, down to 1,86,978 units, down from 2,54,701 units in FY19.
While Mahindra was already staring at yearly sales decline, current lockdown and manufacturing activity slowdown in the last couple of days has sealed its fate for the FY concluded.
Mahindra Passenger and CV Sales – March 2020
Current nationwide lockdown has muted sales and disrupted BSVI transition. BSVI transition was scheduled through February and March but has been affected owing to supply chains being impacted, globally, and locally. Mahindra has mostly cleared its BSIV stock, and have less than 100 such vehicles to sell. However, of BSIV vehicles sold recently, registration is a major issue on account of RTOs remaining under lockdown.
UV sales fell 88 percent, down to 3,111 units from 25,801 units. FY20 segment sales is reported at 34 percent decline, down to 1,79,405 units from 2,35,362 units. cars and Vans segment sales fell to 273 units, down 85 percent from 1,845 units. Through the FY, sales fell 61 percent, down to 7,573 units from 19,339 units. CV sales decline too is steep. At 90 percent decline, sales fell to 2,325 units, down from 24,423 units. YTD sales fell 20 percent to 1,99,135 units from 2,48,601 units. MHCV sales collapsed completely last month with 4 units sold, down from 917 units.
Mahindra Tractor / Farm Equipment – March 2020 Sales
3-Wheeler sales contracted 94 percent, down to 421 units from 6,943 units. YTD decline is most secure at a single digit of 7 percent. Sales fell to 62,187 units from 66,699 units.
For March 2020, total domestic sales fell by 90 percent to 6,130 units, down from 59,012 units. FY20 domestic sales is reported at 21 percent decline, down to 4,48,300 units from 5,70,001 units. Total exports for the month fell by 68 percent, down at 1,271 units from 3,940 units. For the FY concluded, exports fell by 28 percent, down to 27,743 units from 38,595 units. In all, a year that was going fairly well for Mahindra despite a difficult backdrop of transition, has just gotten way more difficult in the face of lockdown.
The current scenario has also resulted in the share price of Mahindra to decline sharply. The stock ended at 272.65 on the BSE on 1st April 2020. Mahindra stock was last trading at these prices about 10 years ago.