Mahindra Sales Down 4 Percent at 36,363 Units in December 2016
Sales of its passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were down 8 percent.
Mahindra Scorpio. (Photo Courtesy: Mahindra)
Auto major Mahindra & Mahindra has reported 4 percent decline in total sales at 36,363 units in December. The company had sold 37,915 units during the same month in 2015, M&M said in a statement.
In the domestic market, sales were down 1.5 percent to 34,310 units last month as compared to 34,839 in the year-ago period, it added. Exports during the month declined by 33 percent to 2,053 units as against 3,076 units in December 2015, the company said. Sales of its passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were down 8 percent to 16,698 units as compared to 18,197 units in the same month last year. Commercial vehicle sales were up 14 percent to 14,154 units in December as against 12,465 units in the year-ago period, M&M said.
M&M Chief Executive (auto division) Pravin Shah said, "The auto industry continues to go through challenging times, grappling with the short-term effects of demonetisation as well as reduced and postponed purchase decisions. However, we believe there will be a gradual pick-up in demand starting next few months."
The company hopes that the implementation of GST along with some initiatives taken by the government in the upcoming Union Budget, which is likely to be presented on February 1, will provide a veritable boost to the auto industry and the economy in general, he added. "I believe, this, coupled with stable fuel prices and reduced inflation and interest rates, will fuel the automotive industry's growth going forward," Shah said.(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
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