Mahindra Auto Sector reports 45,421 vehicles sold during May 2019. This is down 3 percent from 46,848 vehicles sold during May, 2018. It comes at a period wherein the Indian auto industry is grappling with a continual sales slowdown, and dealership shutdowns.
Mahindra Passenger Vehicles segment (which includes UVs, Cars and Vans) sales are reported at 20,608 vehicles in May 2019, marginally down from 20,715 vehicles sold in May 2018. Within the segment, UV sales, a mainstay for the brand stood at 19,524 units, marginally up at 1 percent from sales of 19,295 units in May 2018.
Mahindra introduced a strong strategy in the last FY, having introduced three brand new products – Marazzo, Alturas G4, and XUV300. Marazzo and XUV300 sales has helped secure sales stability at an ongoing period of slowdown.
The company also sells Mahindra electric cars, sales of which is down 24 percent at 1,084 units, down from 1,420 units sold in May 2018. Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “While consumer sentiment and demand continued to be subdued during the pre-election phase, our focus has been on correcting the channel inventory. Now, with a stable government at the centre and the forecast of a near normal monsoon, we hope to see an improvement in consumer sentiment over the next few months.”
Commercial Vehicles segment sales was reported at 17,879 vehicles in May 2019, as against 18,748 vehicles in May 2018, down 5 percent. Medium and Heavy Commercial Vehicles segment sales is reported at 637 vehicles for May 2019, down a whopping 45 percent from 1,152 units sold in may 2018. Exports for May 2019 stood at 2,365 vehicles, down 22 percent from 3,030 units sold in May 2018. 3W sales have been steady at 5 percent growth at 4,569 units, up from 4,355 units sold in May 2018.
Mahindra Farm Equipment Sector (FES) tractor sales (domestic) are reported at 23,539 units, down 17 percent from 28,199 units sold during May 2018. Total tractor sales (domestic + exports) during May 2019 stood at 24,704 units, down from 29,330 units sold in may 2018. Exports for the month stood at 1,165 units, up marginally at 3 percent from 1,131 units sold in May 2018.
Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 23,539 tractors in the domestic market during May 2019. The tractor demand has been lower than expected in the month of May. We hope that a strong push by the Government on agri initiatives coupled with a near normal monsoon forecast by IMD would boost the tractor demand in the near future. In the exports market, we have sold 1,165 tractors, a growth of 3% over May 2018.”
