STOCK MARKET BSE NSE

Mahindra total sales down 9 pc at 41,235 units in November

In the commercial vehicle segment, the company sold 17,384 units in November as against 19,673 units in the same month a year ago, down 12 per cent.

Published: 01st December 2019 07:08 PM  |   Last Updated: 01st December 2019 07:08 PM   |  A+A-

Mahindra

Mahindra

By PTI

NEW DELHI: Auto major Mahindra and Mahindra (M&M) on Sunday reported a 9 per cent decline in total sales in November at 41,235 units.

The company had sold 45,101 units in the corresponding month last year, M&M said in a regulatory filing.

In the domestic market, sales were down 7 per cent at 38,614 units last month as compared to 41,564 units in November 2018.

Exports also declined 26 per cent to 2,621 units as against 3,537 units in the year-ago month.

In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 14,637 units last month as compared to 16,188 units in the same month last year, down 10 per cent.

In the commercial vehicle segment, the company sold 17,384 units in November as against 19,673 units in the same month a year ago, down 12 per cent.

"The month post-festive season is historically a lean month for the automotive industry.

Consumer demand, especially for passenger vehicles, typically picks up in the year-end that is in December.

Therefore, we expect December to pan out better for the automotive industry," M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said.

Domestic sales in farm equipment segment in November stood at 20,414 units as against 25,159 units in the same month last year.

Exports for the month stood at 618 units.

Total tractor sales (domestic + exports) during November 2019 stood at 21,032 units as against 25,949 units in the same month last year.

Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd said: "We have sold 20,414 tractors in the domestic market during November 2019.

With government support on agri and rural sector and healthy reservoir levels due to the above normal monsoon, we expect a good Rabi output in the coming months".



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp