Mumbai, May 1 (SocialNews.XYZ) Automobile manufacturer Mahindra & Mahindra on Friday reported a massive decline of 98 per cent in its total vehicle sales in April 2020 to 733 units due to the national lockdown imposed to curb the Covid-19 outbreak.
The company had sold a total of 43,721 units in April 2019.
Industry analysts have cited the Covid-19 outbreak as the main resaon for such downfall in sales numbers.
Subsequent to the outbreak, the national lockdown was imposed. This has dealt a heavy blow to the auto industry, leading to a temporary closure of dealerships and factories.
Furthermore, the company reported nil domestic sales last month. It had sold 41,603 units in April 2019.
Only exports' segment showed some life. M&M exported 733 units in the month under review, which is a decline of 65 per cent on a YoY basis from 2,118 vehicles which were shipped out in April 2019.
Commenting on the situation, Veejay Nakra, Chief Executive Officer, Automotive Division, Mahindra & Mahindra said: "At Mahindra, we are working h and in hand with all stakeholders, especially our dealer and supplier partners, to get our ecosystem started, once the lockdown is lifted. The safety of all our employees will be of paramount importance to us while resuming our operations."
"We are hopeful that our dealerships will open soon and have stocks to cover the first few weeks of sale. In the export market we have sold 733 vehicles during April."
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
