Mahindra's November sales down 13 percent

Automobile manufacturer Mahindra and Mahindra Monday reported a decline of 13 percent in its sales during last month at 34,292 units from an off-take of 39,254 units during the the corresponding month of last year.

"The auto industry continues to face its sluggish demand on the back of factors such as low consumer sentiments and high interest rates. The reducing international crude prices and the subsequent lowering of fuel prices should help in revival of demand in the coming months," said Pravin Shah, chief executive, automotive division and international operations (AFS), Mahindra & Mahindra.

"We also hope that the current excise duty rates will be extended beyond end of December to get much needed recovery for the auto industry."

Domestic sales of the company in the month under review fell by 11 percent at 32,100 units from 36,261 units sold in the corresponding month of last year.

Exports in the month under review declined by 27 percent at 2,192 units from 2,993 units shipped-out during Nov 2013.