Mahindra & Mahindra sales fall 3% in July

Homegrown auto-maker Mahindra & Mahindra (M&M) today reported 3 per cent decline in total sales at 34,652 units in July.
It had sold 35,567 units in the same month last year, M&M said in a statement.
In the domestic market, its sales were down 6 per cent to 31,087 units last month as against 33,047 units in the same month of last year.
Exports were up 41 per cent at 3,565 units as against 2,520 units in the same period a year ago.
Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 14,456 units as compared to 16,569 units in July 2014, down 13 per cent.

Commercial vehicle sales were up 7 per cent to 12,148 units last month against 11,336 units in the year-ago period, M&M said.
Commenting on the outlook, M&M Chief Executive (Automotive Division) Pravin Shah said: "While the auto industry is currently seeing muted growth, we do believe that the launch of some exciting new products will help it turn the tide."
In addition, with the advent of a good monsoon till date and reduction in fuel prices, the company expects sentiments to improve, leading to overall growth in auto sales, he added.