Mahindra & Mahindra registers 10 per cent fall in September 2013 sales

Thursday 03 October 2013, 11:54 AM by

Indian home-grown major Mahindra & Mahindra recently announced that it has recorded a 10.45 per cent decline in sales for the month of September, 2013. As per the figures released by the company, it sold 43,289 units during the month as compared to the 48,342 units it sold in the same period last year.

Commenting on weak showing by the company, Mahindra & Mahindra's Chief Executive Officer for Automotive Division, Pravin Shah was quoted as saying, "While there has been a growth over August 2013, it is not to the extent that makes us comfortable, especially as we approach the festive season." He further added, "To compensate to some extent we have taken a price increase effective today. The auto industry is definitely in need of a trigger in terms of a stimulus to boost consumer sentiments leading to a turnaround in the sector as well as a revival of the economy in general."

Mahindra & Mahindra registers 10 per cent fall in September 2013 sales | CarTrade.com
Mahindra & Mahindra registers 10 per cent fall in September 2013 sales

The sales of passenger vehicles for Mahindra & Mahindra stood at 18916 units as opposed to the 23808 units of September 2012. However, the sales of commercial vehicles brought about some respite for the company as they went up by 2 per cent at 14,709 units during the month of September 2013. Also to mention, the sales of three-wheelers were up by 5.86 per cent to 6403 units in September 2013 as compared to last year's performance of 6048 units in the same period. Exports for the auto maker also registered a decline by 11.88 per cent at 2715 units in September 2013 as opposed to the 3079 units in the same period last year. In the meanwhile, Mahindra & Mahindra had recently announced that it will hike the prices of its passenger and commercial vehicles from Rs. 6000 to Rs. 20,000 effective from 1st October 2013.