Mahindra total sales dip over 11% in February to under 29,000 units

Mahindra & Mahindra (M&M) on Monday reported an 11.38 per cent decline in total sales at 28,777 units in February.

The company had sold 32,476 units in February 2020, M&M said in a statement.

Passenger vehicles sales increased by 41 per cent to 15,391 units last month, as compared with 10,938 units in the year-ago period.

In the commercial vehicles segment, the company sold 11,559 vehicles in the domestic market last month, as against 19,699 units in February 2020, a drop of 70.42 per cent.

Exports declined by 1 per cent to 1,827 units last month, as against 1,839 units in the year-ago month.

"Demand continues to remain buoyant for our range of SUVs and Pick-ups and we have a robust order pipeline. However, supply of semiconductors, as we all know, is a global issue and it is likely to continue for another 3 to 4 months," M&M Chief Executive Officer Automotive Division Veejay Nakra said.

Going forward, the company will continue to monitor the situation and closely work with its suppliers to minimise this supply risk, he added.