Mahindra & Mahindra June sales down 8%
   
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Mahindra & Mahindra June sales down 8%

Last Updated: Monday, July 1, 2013, 16:01
 
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Mahindra & Mahindra June sales down 8%
New Delhi: Auto-maker Mahindra & Mahindra on Monday reported 7.81 percent decrease in its total sales at 38,092 units in June, 2013.

The company had sold 41,322 units in the same month in 2012, Mahindra & Mahindra (M&M) said in a statement.

In June this year, M&M's domestic sales stood at 36,207 units as against 38,951 units in the same month last year, down 7.04 percent.

Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 17,232 units as against 19,792 units in June, 2012, down 12.93 percent.

Sales of the company's commercial vehicles, including Gio and Maxximo mini-trucks, registered 5 percent growth, at 13,761 units, it said.

The company, however, said sales of its three-wheelers declined by 11 percent to 4,303 units during June, 2013 from 4,836 units in the same month last year.

M&M's exports declined by 20.49 percent to 1,885 units during the month from 2,371 units in June, 2012.

"We have witnessed a de-growth in the month of June, 2013 amidst an overall decline in the auto industry. The depreciating rupee resulting in spiralling fuel costs coupled with high interest rates and the additional excise duty on SUVs has further dampened the industry without any substantial revenue to government," M&M Chief Executive (Automotive Division) Pravin Shah said.

He added that going forward, the company hopes that some immediate short term measures are announced and implemented by the government to bring back buoyancy in demand which is the need of the hour.

PTI


First Published: Monday, July 1, 2013, 16:01


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