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Mahindra and Mahindra sales crash in October 2019

Mahindra and Mahindra, one of India’s leading automobile manufacturer, reported an 11% decline in total sales for the month of October, selling 51,896 units.

The domestic sales for the company were reported to have witnessed a dip of 11% to 49,193 units for October, as compared to 55,350 units in October last year. In terms of exports, the number declined to 12% to 2,703 units, against 3,066 units in the same month the previous year.

Talking about the commercial vehicle segment, the company recorded sale of 23,582 units, in comparison to 24,353 units for last year in the same period.

In October 2019, the medium and heavy commercial vehicles segment’s sales were at 402 units versus 683 units sold in the year-ago period.

Talking about the sales performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M, said in a statement,”The festive month of October 2019 was excellent for Mahindra, with retail volume exceeding wholesale by approximately 40 per cent. This robust retail performance was contributed by both passenger & commercial vehicles.”

“Further, our billing numbers are in line with what we had planned for the month, since the objective was to significantly correct our channel inventory. We hope to see the positive consumer sentiment continue going forward,” he added.