Mahindra reports 14.52% dip in total sales in Oct at 44,359 units

Mahindra & Mahindra (M&M) on Sunday reported a 14.52 per cent decline in total sales to 44,359 units in October. The company had sold 51,896 units in the same month last year, M&M said in a statement.

In the domestic market, passenger vehicle sales were up 1 per cent to 18,622 units last month compared to 18,460 units in October 2019.

In the commercial vehicles segment, the company sold 3,118 vehicles last month in the domestic market as against 7,151 units in October 2019, a drop of 56 per cent.

Exports dropped by 25 per cent to 2,021 units as against 2,703 units in the year-ago month.

"We are happy to achieve a growth of 4 per cent in utility vehicles, despite certain supply constraints. Our brands Scorpio, Bolero and XUV 300 continue to do well, while the bookings for the all-new Thar has set new records within just a month of its launch," M&M Chief Executive Officer, Automotive Division, Veejay Ram Nakra said.

For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year, he added. "Going forward, this augurs well for a robust festive demand which in turn will help the industry in the short term," Nakra said.

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