Car Sales June 2020: Mahindra's Sales Fall 55 Per Cent YoY; Monthly Volumes See Double Growth

Mahindra & Mahindra announced its sales results for June 2020 and the automaker's total volumes (domestic+exports) stood at 19,358 units, witnessing a decline of 55 per cent as compared to 42,547 units sold during the same month last year. While year-on-year sales saw the company's volumes drop by half, the automaker managed to do better compared to May 2020, as it recovers from the impact of the Coronavirus pandemic. Mahindra's sales for June witnessed a double-digit growth when compared to the 9,560 units that were sold in May this year.

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Commenting on the sales, Veejay Nakra, CEO, Automotive Division, M&M said, "The automotive industry has started to see recovery both in the passenger and small commercial vehicle segments. This has been led primarily by rising rural demand and movement of essential goods across the country. Our key brands such as Bolero, Scorpio and Pik-Ups, are all seeing good traction. Managing the supply chain will be our key focus area as we ramp up production to meet this increased demand."

Mahindra has resumed production at several plants while dealerships too have begun operations pan India

Mahindra's Passenger Vehicle (PV) sales for June 2020 stood at 8,075 units, registering a decline of 57 per cent in year-on-year volumes with 18,826 units sold in June 2019. Sales in May were down to 3,867 units though. Utility vehicles continue to remain the largest contributor towards PV volumes with 7,958 units sold, a 55 per cent drop; while car sales stood at 117 units with a massive 89 per cent drop, year-on-year.

In the Commercial Vehicle (CV) segment, sales dropped by 36 per cent with 10,417 units sold last month. The LCV segment continues to bring in the volumes for the brand with 10,332 units sold in June, whereas the Medium & Heavy Vehicles (M&HCV) sales have seen a 96 per cent drop year-on-year with just 34 units sold last month. Three-wheeler sales for June stood at just 13 units, a negligible figure when compared to the 4,251 units that were sold in June 2019.

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Mahindra's exports also reported a decline of 76 per cent year-on-year with 853 units shipped in June 2020, as compared to 3,076 units during the same month last year. That said, exports also doubled for the company month-on-month with 484 units shipped in May this year.