Mahindra & Mahindra sold 35,175 units during August 2014

Mahindra & Mahindra Ltd. Recorded a total sales of 35,175 units during August 2014, as against 37,897 units during August 2013, registering a de-growth of 7%. Domestic sales were 6% decrease while exports declined by 26%

The total sales for Mahindra for April to August period of fiscal year 2014-15 were at 7% decline at 183,365 units against 197,977 units sold during FY 2013-14. Domestic sales declined by 8% while exports grew by 10%.

Segmentwise Sales Overview

The Passenger Vehicles segment (which includes UVs and the Verito) sold 14,140 units in August 2014, as against 15,821 units during August 2013. The company’s domestic sales stood at 33,145 units during August 2014, as against 35,159 units during August 2013. In August 2014, the 4-wheelers commercial segment sold 12,975 units, while the 3-wheelers segment clocked 5,433 units, registering a growth of 6%. Exports for the month stood at 2,030 units.

The year to date sales of Passenger Vehicles segment (which includes UVs and the Verito) were at 11% de-growth at 81,861 units for FY 2014-14 as against 91,575 units during FY 2013-14. The sales of trucks and bus registers 3% growth.

Commenting on the monthly performance, Pravin Shah, Chief Executive, Automotive Division & International Operations(AFS), Mahindra & Mahindra Ltd. said, "In spite of our overall sales remaining flat in August, we continue to be optimistic due to the industry’s enhanced business confidence which is reflected by the manufacturing sector showing signs of revival. We do hope that the government continues to drive the agenda of reforms together with execution which would spur investments. The automotive industry, including us, is hopeful of a better demand leading up to the ensuing festival season."

Source: Autobei