Mahindra & Mahindra reports 13 per cent fall in November car sales

Mahindra & Mahindra (M&M), the home-grown auto major, on Monday reported 13 per cent decline in total sales at 34,292 units in November.

M&M had sold 39,254 units in the Nov 2013, the company said in a statement.

The auto major's domestic sales declined by 11 per cent to 32,100 units in October 2014 as against 36,261 units in the corresponding year-ago period.

Sales of passenger vehicles including Scorpio, XUV 500, Xylo, Bolero and Verito fell by 18 per cent to 13,765 units in the reporting month, compared to 16,771 units in November 2013.

In October 2014 , the carmaker's four-wheel commercial vehicle sales were down by 3 per cent to 12,748 units as against 13,186 units in the year-ago month, M&M said.

M&M Chief Executive Automotive Division and International Operations Pravin Shah said, "The auto industry continues its sluggish demand on the back of factors such as low consumer sentiments and high interest rates."

The slumping international crude oil prices and the subsequent lowering of fuel prices should help in the revival of demand in the coming months, Shah added.

"We also hope that the current excise duty rates will be extended beyond end of December to get much needed recovery for the auto industry," the executive said.

The company's exports were down 27 per cent in November to 2,192 units from 2,993 units in the same period a year ago.

"We continue to be optimistic on the back of a good response for our new generation Scorpio and a comparatively better performance of our 4 wheeler commercial segment," Shah added.