Mahindra total sales fell 11% to 51,896 units in October
NEW DELHI: Important car Mahindra and Mahindra (M&M) on Friday reported an 11 per cent decline in total sales at 51,896 units in October.
The company had sold 58,416 units in the corresponding month last year, M&M said in a regulatory document.
In the domestic market, sales fell 11 percent to 49,193 units last month compared to 55,350 units in October 2018.
Exports also recorded a 12 percent decrease to 2,703 units compared to 3,066 units in the month of the previous year.
In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 18,460 units last month compared to 24,066 units in the same month last year, down 23%.
In the commercial vehicle segment, the company sold 23,582 units compared to 24,353 units in the same month of the previous year, 3 percent less.
M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said, The festive month of October was excellent for Mahindra, with retail volume exceeding wholesale by approximately 40 per cent. This robust retail performance was contributed by both passenger and commercial vehicles.
In addition, the company's billing numbers are in line with what he had planned for the month, as the goal was to significantly correct his channel inventory, Nakra said.
We hope to see that positive consumer sentiment continues to advance, he added.