Mahindra & Mahindra has recorded a drop of 12 per cent in sales of its utility vehicles selling 12,863 units in September 2021 as compared to 14,663 units sold in sold in the same month a year ago. The cars and vans segment recorded a growth of 40 per cent at 271 units as against 194 units sold a year ago. Overall, Mahindra recorded a sales decline of 12 per cent selling 13,134 units as compared to 14,857 units sold a year ago.
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Mahindra has recently announced prices for the new XUV700 in India.
According to Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., "The challenges around the supply of semiconductors continues to pose difficulties for the auto industry globally. We have taken several steps to mitigate the effect and are working towards managing the situation as best as possible. We have maintained our growth momentum in exports with a 61 per cent increase. This month, we launched the All New FURIO 7 range of LCV trucks, with unprecedented customer value of double guarantees, which has received a very positive response from the market."
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Mahindra has cited semiconductor issue as the reason for decline in sales.
Moreover, the company has recorded a month-on-month (MoM) sales decline of 19.47 per cent as it sold 15,973 units in August 2021. The drop in sales is primarily attributed to the semi-conductor issue. Chip shortage has become a global concern and has impacted several other industries along with the auto sector. Carmaker like Maruti Suzuki, Hyundai Motor India, MG Motor India and Toyota Kirloskar Motor too have reported sales decline due to the semiconductor issue.
