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Mahindra’s auto sector July 2019 sale down by 14.95 pc
Business

Mahindra’s auto sector July 2019 sale down by 14.95 pc

Agency News

Mumbai, Aug 1 : Auto Major, Mahindra & Mahindra has reported a decline of 14.95 per cent in its overall sales (Domestic + Exports) at 40,142 vehicles in July 2019, compared to 47,199 vehicles during July 2018.

In the Passenger Vehicles segment (which includes UVs, Cars and Vans), Mahindra sold 16,831 vehicles in July 2019, compared to 19,781 vehicles in July 2018. In the Commercial Vehicles segment, the company sold 15,969 vehicles in July 2019, as against 19,284 vehicles in July 2018.

In the Medium and Heavy Commercial Vehicles segment, Mahindra sold 417 vehicles for the month. Exports for July 2019 stood at 2,668 vehicles. The company's Auto Sector overall sales (Domestic + Exports) stood at 40,142 vehicles in July 2019, compared to 47,199 vehicles during July 2018.

Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. 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." (UNI)