M&M sales down by 5% in September

New Delhi: Mahindra & Mahindra on Thursday reported 5 percent decline in the total sales at 42,848 vehicles in September.

It had sold 44,911 units in the same month last year, M&M said in a statement.
In the domestic market, its sales were down by 6 percent to 39,693 units last month as against 42,408 units in September last year.

Exports were up 26 percent at 3,155 vehicles as against 2,503 units in the same period a year ago.

Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 19,564 units as compared to 21,141 units in September 2014, down by 7 percent.

Commercial vehicle sales were down by 5 percent to 14,430 units last month against 15,171 units in the year-ago period, M&M said.

"While the auto industry has witnessed a slow and fragmented recovery, the recent interest rate reduction by the RBI is bound to infuse optimism," M&M Chief Executive (Automotive Division) Pravin Shah said.

If the majority of the rate cut is passed on to the customers by the lending institutions, it will bring back the momentum in auto sales especially in the upcoming festival season, he added.