Automaker Mahindra and Mahindra has been a key player in the Indian automotive sector. Surprisingly, Mahindra and Mahindra has reported a 15.39% percent decline in sales with about 42,776 units in October as against 50,558 units that were sold in the same month last year.
Combined passenger vehicle sales including Scorpio, XUV 500, Xylo, Bolero and Verito stood at 19,254 units as against 22,924 units that were sold in October last year. Speaking more on the occasion, Pravin Shah, M&M Chief Executive Automotive Division and International Operations (AFS), said, “Our sales for the month of October remain subdued on the back of overall sentiment and high interest rates. However I'm happy with our retail sales this month which has helped bring the system stocks to an optimal level. We are happy with the response to our New Generation Scorpio for which we are thankful to our customers." The company is also hopeful that deregulation price in diesel shall also support the auto industry.
