Mahindra posts 10% sales decline in September 2013

Mahindra & Mahindra, India's leading SUV manufacturer, has reported a sales decline of 10 per cent at 43,289 units in September 2013. The company sold 18,916 passenger vehicles, which includes UVs and Verito, in September 2013 as against 23,808 units during the same month last year.

The company's domestic sales stood at 40, 574 units during September 2013, as compared to 45,263 units during September 2012. Both the 3-wheeler and 4-wheeler segments had marginal growths, at 6,403 and 14,709 units respectively in September 2013, as compared to September 2012. It is noteworthy that the auto sector of the company has posted a growth of 14 per cent in September 2013 over its August 2013 sales which stood at 37,897 units.

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “While there has been a growth over August 2013, it is not to the extent that makes us comfortable especially as we approach the festive season. Factors such as increase in input and raw material costs and the depreciating rupee have not helped. To compensate to some extent we have taken a price increase effective today. The auto industry is definitely in need of a trigger in terms of a stimulus to boost consumer sentiments leading to a turnaround in the sector as well as a revival of the economy in general.”

Source : CarDekho - Mahindra Verito - Mahindra posts 10% sales decline in September 2013