M&M Sales Sinks 3 Per Cent In May 2015

Mahindra & Mahindra has reported a three per cent decline in total sales at 36,706 vehicles in May 2015 as against 37,869 units during May 2014.

The home grown leading SUV manufacturer had registered 36,727 units of sales during April 2015.

In the domestic market, sales were down six per cent to 33,369 units last month as against 35,499 units in the same month of last year. Exports were up 40.8 per cent at 3,337 vehicles as against 2,370 units in the same period a year ago.

“The auto industry has been showing signs of recovery and it is important that factors like an interest rate cut if considered, would accelerate growth. At Mahindra we hope to see improved sentiments with higher level of economic activities and the launch of our New Age XUV500 which has received a good initial response. We are also happy with a 41% growth in our exports during the last month,” said Pravin Shah, President & Chief Executive (Automotive), Mahindra & Mahindra.

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,135units in May 2015 as against 19,470 units during May 2014. In May 2015, the Medium and Heavy Commercial Vehicles segment sold 343 units, registering a growth of 44 per cent. Exports for May 2015 stood at 3,337 units registering a growth of 41 per cent.