During the last month of 2014, auto major M&M reported an 8% decline in total sales. The company sold 36,328 units as against 39,611 units sold in December 2013. The company reported an increase of 5% where passenger vehicles were concerned but overall domestic sales fell by 6.56% to 34,460 units as against 36,881 units sold in December 2013. Exports of the company also experienced a decline of 31.57% from 2,730 units exported in December 2013 to 1,868 units exported in December 2014.
(R-L)- Mr. Anand Mahindra, Chairman, Mahindra Group & Dr Pawan Goenka, Executive Director, M&M Ltd, at the launch of the New Generation Scorpio last year.
Sales of passenger vehicles sold during December 2014 increased 5% and stood at 17,311 units as against 16,436 units sold in December 2013 while in the three wheeler segment, sales declined by as much as 27%. Four wheeler commercial vehicle sales dipped 15% to 12,194 units as compared to 14,399 units sold in the same month in the previous year.
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M&M also reported a dip in tractor sales to the tune of 27%. Total tractor sales taking into account domestic and exports during December 2014 stood at 12,474 units as against 17,037 units sold in December 2013. Exports for the month stood at 1,188 units, registering a growth of 52% as compared to 780 units exported in December 2013. Domestic sales of tractors fell 9% YoY as compared to previous year’s figures. Delayed monsoon, poor yield and reduced disposable income attributed to this decline in sales.