Mahindra Automotive sales dip 17 percent in September 2020 while Farm Equipment sector grows 17 percent
In terms of passenger vehicles, which include utility vehicles, cars and vans, the company noted a 4 percent increase in September 2020sales. PV sales in the past month stood at 14,857 units, up from 14,333 units sold in September 2019.
Mahindra Car Sales
For Mahindra, in the PV segment, sales of utility vehicles surged 6 percent from 13,858 units sold in September 2019 to 14,663 units sold in the past month. However, in terms of cars and vans, the company noted de-growth of 59 percent to 194 units. Year to date UV sales also dipped 49 percent and that of cars and vans were down 84 percent.
Despite of this increase registered in the PV sales, it was not enough from saving Mahindra losing its No 3 spot. In Sep 2019, Mahindra was the No 3 car brand in India, behind Maruti and Hyundai. But in Sep 2020, Mahindra has slipped to No 5. Tata Motors has climbed to No 3, while Kia Motor has taken No 4 position.
Mahindra CV Sales
Commercial vehicle segment saw 18,907 units sold in September 2020; making sales practically on par with 18,872 units sold in the same month of the previous year. This took total domestic CV sales down 16 percent to 34,351 units in September 2020 as compared to 40,692 units sold in September 2019.
Exports also suffered de-growth of 41 percent to 1,569 units; with total domestic sales and exports at 35,920 units, down 17 percent as compared to 43,343 units sold in September 2019. YTD sales in the segment dipped 52 percent to 1,21,675 units, down from 2,51,259 units in the same period last year.
Mahindra Farm Equipment Sales
Mahindra’s tractor sales outperformed that of SUVs and Trucks for the 5th straight month. The company’s farm equipment sector noted a 17 percent growth where domestic sales and exports were concerned. Domestic sales stood at 42,361 units in September 2020, 18 percent higher as compared to 36,046 units sold in the same month of the previous year.
Exports also surged 6 percent to 1,025 units as compared to 965 units exported in September 2019. Total tractor sales thus went up 17 percent to 43,386 units last month as compared to 37,011 units of the same period last year.
The company hopes to enter the festive season on a positive note. Market sentiments are high in urban markets and more so in rural areas following a favourable monsoon season, high kharif crop acreage and support from the Government of India in terms of higher MSP on key crops.
Next Big Launch
The new generation Thar is set for launch on 2nd October on the occasion of Mahindra’s 75th Founder’s Day. It will be launched in two variants – AX and LX. Prices are expected to be in the range of Rs 10 lakh to Rs 15 lakh, ex-sh. The new Mahindra XUV300 Sportz with turbo petrol is also poised for launch sometime soon.