M&M December sales up 1 pc at 39,755 units

Homegrown auto major Mahindra & Mahindra Tuesday reported 1 per cent increase in total vehicle sales at 39,755 units in December 2018.

The company had sold 39,200 units in December 2017, Mahindra & Mahindra (M&M) said in a statement.

Domestic sales were, however, down 1 per cent at 36,690 units last month from 36,979 units in December 2017, it added.

Passenger vehicle sales during the month were at 15,091 units as against 15,543 units in the year-ago month, down 3 per cent.

Commercial vehicle sales were also down 4 per cent at 16,906 units last month from 17,542 units in December 2017.

Commenting on the sales performance, M&M President, Automotive Sector Rajan Wadhera said in the "domestic market, challenges relating to tight liquidity and low buying sentiment continue the de-growth for December".

"We hope to see good performance in Q4, owing to the anticipated rural demand because of the harvesting season and the launch of our new XUV300 in February 2019," he added.

M&M said its exports last month were at 3,065 units compared to 2,221 units in the year-ago month, a growth of 38 per cent.