M&M Records 9% Decline In Sales In November 2019

Mahindra & Mahindra Ltd. has announced its auto sales performance for November 2019.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 14,637 vehicles in November 2019, compared to 16,188 vehicles November 2018.

In the Commercial Vehicles segment, the company sold 17,384 vehicles in November 2019, as against 19,673 vehicles in November 2018.

In the Medium and Heavy Commercial Vehicles segment, Mahindra sold 311 vehicles for the month. Exports for November 2019 stood at 2,621 vehicles.

The company’s overall automotive sales (Domestic + Exports) stood at 41,235 vehicles in November 2019, compared to 45,101 vehicles during November 2018.

Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said, “The month post festive season is historically a lean month for the automotive industry. Consumer demand, especially for passenger vehicles, typically picks up in the year-end that is in December. Therefore, we expect December to pan out better for the automotive industry.”

Meanwhile, Farm Equipment Sector (FES) domestic sales in November 2019 were at 20,414 units, as against 25,159 units during November 2018. Total tractor sales (Domestic + Exports) during November 2019 were at 21,032 units, as against 25,949 units for the same period last year. Exports for the month stood at 618 units.

Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 20,414 tractors in the domestic market during November 2019. With Government support on Agri and rural sector and a healthy reservoir levels due to the above normal monsoon, we expect a good Rabi output in the coming months. This will generate positive sentiment and drive growth, going forward. In the exports market, we have sold 618 tractors."