Auto major Mahindra and Mahindra (M&M) on Sunday reported a 9 per cent decline in total sales in November at 41,235 units. The company had sold 45,101 units in the corresponding month last year, M&M said in a regulatory filing. In the domestic market, sales were down 7 per cent at 38,614 units last month as compared to 41,564 units in November 2018.
Exports also declined 26 per cent to 2,621 units as against 3,537 units in the year-ago month. In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 14,637 units last month as compared to 16,188 units in the same month last year, down 10 per cent.
In the commercial vehicle segment, the company sold 17,384 units in November as against 19,673 units in the same month a year ago, down 12 per cent. "The month post festive season is historically a lean month for the automotive industry. Consumer demand, especially for passenger vehicles, typically picks up in the year-end that is in December.
Therefore, we expect December to pan out better for the automotive industry," M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said. Domestic sales in farm equipment segment in November stood at 20,414 units as against 25,159 units in the same month last year. Exports for the month stood at 618 units.
Total tractor sales (domestic + exports) during November 2019 stood at 21,032 units as against 25,949 units in the same month last year. Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd said: "We have sold 20,414 tractors in the domestic market during November 2019.
With government support on agri and rural sector and healthy reservoir levels due to the above normal monsoon, we expect a good Rabi output in the coming months".