Mahindra auto sales are reported at 51,896 vehicles for October 2019. Passenger vehicle segment (UVs, Cars and Vans) sales are reported at 18,460 vehicles in October 2019, down 23 percent from 24,066 vehicles sold in October 2018.
Of the vehicles sold, Mahindra undertook the mammoth task of delivering 13,500 vehicles in the month on a single day, Dhanteras. While that sounds as positive as positive can be, it bears little positivity in the overall scheme of things. The only reason deliveries on said shoot through the roof is because there’s a preference of deliveries on an auspicious day.
Bulk of sales come from Mahindra SUVs. This is reported at 17,785 units, down 20 percent from 22,279 units sold in October 2018. The Cars and vans segment (EVs) has seen a sharp decline of 62 percent, with sales down to 675 units from 1,787 units sold in October 2018.
Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said, “The festive month of October 2019 was excellent for Mahindra, with retail volume exceeding wholesale by approximately 40%. This robust retail performance was contributed by both passenger & commercial vehicles.
Further, our billing numbers are in line with what we had planned for the month, since the objective was to significantly correct our channel inventory. We hope to see the positive consumer sentiment continue going forward.”
Commercial Vehicles segment sales decline is contained at 3 percent, down to 23,582 LCVs in October 2019, as against 24,353 LCVs in October 2018. In the Medium and Heavy Commercial Vehicles segment, Mahindra sold 402 vehicles for the month, down 41 percent from 683 units sold in October 2018. Sales growth was reported in the 3-wheeler segment at 3 percent. Sales is up at 7,151 units from 6,931 units sold in October 2018.
Total Exports for month are reported at 12 percent sales decline, down to 2,703 units from 3,066 units exported in October 2018. Total domestic sales is down 11 percent at 49,193 vehicles old, down from 55,350 units sold in October 2018.
Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 44,646 tractors in the domestic market during October 2019. The festive season has seen improvement in demand uptick. The retail momentum has been good in October with a healthy double digit growth compared to October last year. Higher reservoir levels, adequate soil moisture condition and an improved MSP of Rabi crop, augur well for tractor demand in the next few months. In the exports market, we have sold 787 tractors.”
