Mahindra Reports 42 Per Cent Sales Decline in February, 32,476 Units Sold

Mahindra Reports 42 Per Cent Sales Decline in February, 32,476 Units Sold

by Jyoti
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Mahindra bought 10,938 passenger autos in February this 12 months as towards 26,109 autos in the identical month final 12 months, a decline of 58 per cent.

Auto main Mahindra and Mahindra (M&M) on Sunday reported a 42 % decline in complete gross sales at 32,476 items in February. The firm had bought 56,005 items in the identical month final 12 months, M&M mentioned in an announcement.

In the home market, gross sales have been down 42 % to 30,637 items final month as in contrast with 52,915 items in February 2019. Exports dropped 40 % to 1,839 items as in contrast with 3,090 items within the year-ago month.

In the passenger autos section, which incorporates utility autos, automobiles, and vans, M&M bought 10,938 autos in February this 12 months as towards 26,109 autos in the identical month final 12 months, a decline of 58 %. Commercial automobile gross sales fell 25 % to 15,856 items as towards 21,154 items a 12 months in the past.

In the medium and heavy business autos section, M&M bought 436 autos through the month as towards 686 items within the year-ago month.

“The ramp-down of BS-IV vehicle production has been in line with our plan for February. However, because of the unforeseeable challenges on the parts-supply from China, our BS-VI ramp-up has been affected,” Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd mentioned.

This has resulted in a excessive de-growth in billing quantity for February and vendor stock is now below 10 days, he mentioned. “Going into March, we anticipate the challenge on parts-supply to continue for another few weeks, before we get back to normalcy,” he added.

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