Automobile major Mahindra and Mahindra (M&M) Monday reported a 6 per cent fall in total sales to 42,547 units in June.

The company had sold 45,155 units in the corresponding month last year, M&M said in a statement.

In the domestic market, sales were down 5 per cent to 39,471 units last month, compared with 41,689 units in June 2018.

Exports dropped 11 per cent to 3,076 units, against 3,466 units in the year-ago month.

In the passenger vehicles segment, which includes utility vehicles, cars and vans, it sold 18,826 vehicles in June this year as compared with 18,137 vehicles in the same month last year, an increase of 4 per cent.

In the commercial vehicles segment, the company sold 16,394 vehicles as against 19,229 units a year ago.

“The market sentiment continued to remain subdued, especially in the passenger vehicles segment. At Mahindra, we are happy to register a growth of 4 per cent in the segment and 8 per cent in the utility vehicles segment, on the back of our three recent product launches,” said Rajan Wadhera, president (automotive sector), M&M Ltd.

The company continued to correct its channel inventory both in personal and commercial vehicles during last month, he added.

Tractor sales dip in June

Mahindra & Mahindra (M&M) reported a 18 per cent decline in total tractor sales at 33,094 units in June.

 The company had sold a total of 40,529 units in the same month last year, M&M said in a statement.

 Domestic tractor sales were down by 19 per cent to 31,879 units last month from 39,277 units in the year-ago period, it added.

 “Tractor demand remained sluggish in June. We hope that the onset of monsoon and the upcoming Union Budget allocations to the rural and agri sectors will drive positive sentiment in the coming months,” M&M President - Farm Equipment Sector Rajesh Jejurikar said.

 The company’s exports in June stood at 1,215 units as against 1,252 units in the same month last year, a decline of 3 per cent, the company added

Related Topics