Mahindra & Mahindra sales down by 21% in July

Mahindra & Mahindra, India's leading SUV manufacturer, registered a negative sales growth of 21 per cent in July 2013. The homegrown automajor sold 37,096 units in July 2013 as against 47,059 units in the same month last year. The Passenger Vehicles segment (which includes the UVs and Verito) sold 15,530 units in July 2013, as against 22,011 units during July 2012. The company’s domestic sales stood at 34,490 units during July 2013, as against 42,799 units during July 2012. The 4 wheeler commercial segment which includes passenger and load vehicles sold 13,740 units, while the 3 wheeler segment clocked 4,490 units in July 2013. Exports for the month of July 2013 stood at 2,606 units.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “Over the last few months, the auto industry has been going through one of its worst phases of the last decade with planned shutdowns being taken by companies to correct demand-supply mismatch. The industry is in desperate need for an immediate stimulus from the government. With interest rates remaining unchanged and the rupee plunging to new lows, lowering of excise duty is the need of the hour which will rev up demand for auto products, leading up to the festive season”.

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