Mahindra and Mahindra, the homegrown automobile manufacturer, recorded a 15% decline in its domestic sales for the month of July 2019. The company sold a total of 37,474 units during the aforementioned month. While during the same month last year, Mahindra's domestic vehicle sales stood at 44,605 units. Though the company recorded an increase of 3% in its exports, from 2,594 units in July 2018 to 2,668 units in July 2019, it's overall sales (domestic+exports) suffered a 15% decline.
In the passenger vehicle segment, which includes utility vehicle, cars and vans, the homegrown automaker registered a 16% decline. During the month of July 2019, the domestic vehicles sales for Mahindra, which includes sales of its subsidiary Mahindra Electric, stood at 16,831 units. During the same month last year, the company sold 19,781 units. Talking about the commercial vehicle segment, Mahindra sold 15,959 units last month. This is down by 17% in comparison to the same month last year when the sales stood at 19,284 units.
In the medium and heavy commercial vehicle segment, Mahindra sold a total of 417 units during July 2019. This is down by 52% in comparison to 866 units during the same month last year. On the other hand, the three-wheeler sales for the company stood at 5,540 units during July 2019.
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.”
In other news, Mahindra is currently working on the next-generation iterations of the Thar 4x4 and the Scorpio compact SUV. Test mules of both of these vehicles have been spotted testing on Indian roads several times in the recent past. In addition to this, the homegrown automaker is also working on an all-electric version of the KUV100 which is likely to launch in India sometime later this year.