M&M’s April sales down 6%

Mumbai, May 2 (IANS) Utility vehicles major Mahindra and Mahindra (M&M) on Tuesday reported a decline of six per cent in its passenger and commercial vehicle sales during last month.

According to the company, its total sales for April decreased to 39,357 units from 41,863 units sold during the corresponding month of last year.

The automobile major's domestic sales during the month under review fell by four per cent to 37,829 units as against 39,357 units sold during April 2016.

M&M'S exports during the last month were down by 39 per cent to 1,528 units as compared to 2,506 units shipped out in the corresponding month of 2016.

"We are hopeful that the new financial year will bring in positive sentiments for the automotive industry with the key demand drivers in place. Factors such as the ongoing infrastructure development initiatives, outlook for a normal monsoon and the expectation of a stable policy environment will fuel growth in the coming days," said Rajan Wadhera, President, Automotive Sector, M&M.

"At Mahindra we have registered a marginal de-growth in the month of April. Going forward, we are looking for a good growth momentum with our planned refreshes during FY18".

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