Mahindra & Mahindra sales down by 8% in June 2013

Mahindra & Mahindra, India's leading utility vehicle manufacturer has registered a negative growth of 8 per cent in June 2013. The homegrown auto maker has sold around 38092 units in June 2013 as against 41322 units during June 2012.

The passenger vehicles segment, which includes utility vehicles and Verito sedan, sales stood at 17232 units in June 2013, as against 19792 units during the same time in June 2012. The overall domestic sales of the company stood at 36207 units in June 2013, as against 38951 units during June 2012.

While talking about the 4-wheeler commercial vehicle segment, which consists of the passenger and load vehicles registered a 5 per cent growth, having sold 13761 units, the 3-wheeler segment accounted for 4303 units in June 2013. The company has also exported 1885 units in the June 2013.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We have witnessed a de-growth in the month of June 2013 amidst an overall decline in the auto industry. The depreciating rupee resulting in spiraling fuel costs coupled with high interest rates and the additional excise duty on SUVs has further dampened the industry without any substantial revenue to Government. Going forward, we do hope that some immediate short term measures are announced and implemented by the Government to bring back buoyancy in demand which is the need of the hour".
 

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