Mumbai, Dec 1 (SocialNews.XYZ) Automobile major Mahindra and Mahindra (M&M) on Sunday reported a 9 per cent fall in its total sales in November, on a year-on-year basis.
In a regulatory filing, the company said that it sold 41,235 units, including exports, last month, compared to 45,101 vehicles sold during the same period last year.
In the passenger vehicles segment which includes utility vehicles, cars and vans, M&M sold 14,637 vehicles in November 2019, 10 per cent lower than 16,188 vehicles recorded in November 2018. The sale of its commercial vehicles fell 12 per cent to 17,384 units, it said.
The sale of its medium and heavy commercial vehicles halved in November. It sold 311 vehicles in the segment last month, 51 per cent lower than 637 units sold in November 2018.
Total exports of the company fell 26 per cent to 2,621 units.
Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M said: "The month post festive season is historically a lean month for the automotive industry. Consumer demand, especially for passenger vehicles, typically picks up in the year-end that is in December. Therefore, we expect December to pan out better for the automotive industry."
Source: IANS
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