Mahindra & Mahindra Ltd (M&M) has sold 34,292 vehicles in November, a 12.64 per cent fall from 39,254 units sold during the same month last year.
The passenger vehicles segment (which includes utility vehicles and the Verito) sold 13,765 units in November as against 16,771 units during the same month of last year. The company’s domestic sales stood at 32,100 units in November as against 36,261 units during November 2013, the company said in a statement.
The auto industry continued to be lacklustre because of sluggish demand on the back of factors such as low consumer sentiments and high interest rates, according to Pravin Shah, Chief Executive, Automotive Division & International Operations (AFS) at M&M. "The reducing international crude prices and the subsequent lowering of fuel prices should help in revival of demand in the coming months,” said Shah.
“We also hope that the current excise duty rates will be extended beyond end of December to get the much needed recovery for the auto industry. We continue to be optimistic on the back of a good response for our New Generation Scorpio and a comparatively better performance of our four-wheeler commercial segment,” Shah added.
During the reporting month, the company’s four-wheeler commercial segment sold 12,748 units, while the three-wheeler segment clocked 5,005 units. Exports for the month stood at 2,192 units.