Mahindra's sales drops down by 18% in November 2013

The Indian auto manufacturer, Mahindra and Mahindra announces its overall auto sales count which stood at 39,255 units in November 2013. It has not been an appreciating phase for the company as the total sales marked a dip of 18 percent, while it also said no hope lies on the way ahead. The firm believes that there would not be any immediate growth unless some serious steps are taken.

Segregating the segments, the Passenger Vehicle segment ( which comprises of Utility Vehicles and Verito) went about selling 16,771 units this year, as against 24,604 units the year back. Mahindra's domestic sales marked at 36,261 units in November 2013, while the same month last year it had sold 46,755 units. So, the sales slumping by 22 percent in the domestic sales, which plays the biggest role in the company's business also proved unsupportive for the firm. The four-wheelers commercial category witnessed sales of 13,186 units, while in the same category a year back the company churned out a profit, selling 14,353 units. So, the negative growth of 8 percent is returned out of this segment.

Commenting on the company's performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd said, “ Post the festive season month of October, the auto industry has turned to further de-growth and continues to remain subdued. Unless some concrete measures are provided for its revival, we do not foresee any immediate turnaround. Factors such as increase in input costs and the depreciating rupee have not helped in any way. At Mahindra, we continue to focus on operational excellence to augment our overall performance and remain cautiously optimistic of the situation”.

Source : CarDekho - Mahindra cars - Mahindra's sales drops down by 18% in November 2013