Mahindra & Mahindra October total sales down 5%

Company sold 53,439 units in the same month last year

Auto-maker Mahindra & Mahindra today reported 5.39% decline in its total sales at 50,558 units in October 2013.

The company had sold 53,439 units in the same month last year, the company said in a statement.

In October this year, M&M's domestic sales stood at 47,787 units as against 51,316 in the same month last year, down 6.87%.

Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 22,924 units during the month as against 26,932 in October 2012, down 14.88%.

Sales of the company's four-wheel commercial vehicles were up 4.83% at 17,362 units as against 16,561 in October 2012, it said.

Its three-wheelers sales remained almost flat at 6,999 units during October 2013 as against 6,973 units in the same month last year.

M&M's exports were up by 30.58% to 2,771 units during the month from 2,122 units in October 2012.

Commenting on the sales performance, M&M Chief Executive (Automotive Division) Pravin Shah said: "Inspite of the new launches, the auto industry has witnessed a de-growth of nearly 5% during the first half of the fiscal 2013-14 and the recent repo hike may prove to be a dampener for potential customers."

The auto industry continues to look forward to an immediate support in terms of stimulus package to perk it up as well as bring back the growth momentum for the economy in general and the automotive sector in particular, he added.