Mahindra Registers 15% Drop In Sales In July 2019

Mahindra and Mahindra officially come out with the sales numbers for July 2019, and the company has announced a decline of 15 per cent in total sales. Last month, the company's cumulative sales, including passenger and commercial vehicles, reached 40,142 units, compared to 47,199 vehicles sold in July 2018. The utility vehicle maker saw an almost similar de-growth of 16 per cent in domestic sales, selling 37,474 in July 2019, compared to the 44,605 units sold during the same month last year. Mahindra total export, however, saw a considerable growth of 3 per cent at 2,668 units, against the 2594 vehicles exported in July 2018.

In the Passenger Vehicles segment, Mahindra sold a total of 16,831 vehicles in July 2019, compared to 19,781 vehicles in July 2018, registering a decline of 15 per cent. The standalone numbers for the utility vehicle category saw a drop of 10 per cent, at 16003, against the 17879 units sold during the same month last year. On the other hand, in the cars and vans category, which includes Mahindra electric vehicles like e2O Plus and e-Verito, the company saw a massive drop of 56 per cent, to 828 units, from 1902 vehicles sold in July 2018.

In the cars and vans category, which includes Mahindra electric vehicles like e2O Plus and e-Verito, the company saw a massive drop of 56 per cent

Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M said, "The headwinds faced by the automotive industry continue as a result of subdued consumer sentiment, triggered by various factors. The industry needs stimuli to help revive consumer demand and conversions. We hope that the overall buying sentiment will improve in the run-up to the festive season and with the monsoon turning out to be better than initially anticipated."

In the Commercial Vehicles segment, the company registered de-growth of 17 per cent, with 15,969 vehicles in July 2019, as against 19,284 vehicles sold in July 2018. However, in the Medium and Heavy Commercial Vehicles segment, Mahindra saw another massive decline of 52 per cent, with 417 vehicles sold, compared to 866 units sold in July 2018. The company's three-wheeler sales also dropped by 16 per cent to 4,674 from 5,540 units sold during the same month last year.