Mahindra & Mahindra Domestic Sales Drop 53% In June

Last month Mahindra sold 9,076 vehicles, while in April, the company had reported zero sales.

Mahindra & Mahindra Domestic Sales Drop 53% In June

Mahindra sold 19,358 vehicles in June

Automobile major Mahindra & Mahindra on Wednesday reported a 53 per cent decline in total domestic sales to 18,505 vehicles last month. The company has sold 39,471 vehicles in June 2019. In the passenger vehicles segment, Mahindra & Mahindra sold 8,075 units last month, marking a drop of 57 per cent compared to the corresponding period a year ago. Sales of utility vehicles fell 55 per cent to 7,958 units, Mahindra & Mahindra said in a regulatory filing.

Mahindra & Mahindra's exports declined 72 per cent to 853 units.

Total sales - including sales in the domestic market and exports - dropped 55 per cent to 19,358 vehicles in June 2020, compared to 42,547 units in June 2019. 

“The automotive industry has started to see recovery both in the passenger and small commercial vehicle segments. This has been led primarily by rising rural demand and movement of essential goods across the country," said Veejay Nakra, chief executive officer-Automotive Division, M&M.

The company had reported zero sales in April due to a nationwide lockdown imposed by the government to curb the spread of the coronavirus pandemic.

Mr Nakra also said that managing the supply chain will further ramp up the production to meet demand.

Mahindra & Mahindra shares ended 2.18 per cent lower at Rs 499.55 apiece on the BSE.