Mahindra's August sales down 7 percent

Automobile manufacturer Mahindra Monday reported a decline of seven percent in its sales during August at 35,175 units from 37,897 units during the same month of last year.

"In spite of our overall sales remaining flat in August, we continue to be optimistic due to the industry's enhanced business confidence which is reflected by the manufacturing sector showing signs of revival," Pravin Shah, chief executive, automotive division and international operations, Mahindra & Mahindra.

"We do hope that the government continues to drive the agenda of reforms together with execution which would spur investments. The automotive industry, including us, is hopeful of a better demand leading up to the ensuing festival season."

Domestic sales of the company in the month under review fell by six percent at 33,145 units from 35,159 units sold in the corresponding month of last year.

Exports in the month under review declined by 26 percent at 2,030 units from 2,738 units sold in the corresponding month of last year.