Mahindra sales drop 6 pct to 42,547 units in June
New Delhi, July 1 () On Monday, the largest automaker Mahindra and Mahindra (Mu0026M) reported a 6 percent drop in total sales to 42,547 units in June.
The company had sold 45,155 units in the corresponding month last year, Mu0026M said in a statement.
In the domestic market, sales fell 5 percent to 39,471 units last month, compared to 41,689 units in June 2018.
Exports fell 11 percent to 3,076 units, against 3,466 units in the same month of the previous year.
In the passenger vehicle segment, which includes utility vehicles, automobiles and vans, it sold 18,826 vehicles in June of this year compared to 18,137 vehicles in the same month of the previous year, an increase of 4 percent.
In the commercial vehicle segment, the company sold 16,394 vehicles against 19,229 units a year ago.
Market sentiment remained moderate, especially in the passenger vehicle segment. At Mahindra, we are pleased to see 4% growth in the segment and 8% in the utility vehicle segment, on the back of our last three product launches, said Rajan Wadhera, president (automotive sector), Mu0026M Ltd. The company continued to correct its inventory of channels in both personal and commercial vehicles during the past month, he added. MSS HRS