Mahindra & Mahindra May sales down 1.2%

Auto-maker Mahindra & Mahindra today reported 1.2 percent decrease in its total sales at 43,460 units in May 2013.

The company had sold 43,989 units in the same month in 2012, Mahindra & Mahindra (M&M) said in a statement. In May this year, M&M's domestic sales stood at 42,104 units as against 39,938 units in the same month last year, up 5.4 percent.

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Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 22,244 units as against 21,154 units in May 2012, up 5.15 percent.

Sales of the company's commercial vehicles, including Gio and Maxximo mini-trucks, registered 12 percent growth, at 14,848 units, it said.

The company, however, said sales of its three-wheelers declined by 7 percent to 4,028 units during May, 2013 from 4,320 units in the same month last year.

Commercial vehicle sales from Mahindra Navistar Automotives Ltd stood at 984 units during the month as against 1,210 units in the same month a year ago, a fall of 19 percent.

M&M's exports declined by 67 percent to 1,356 units during the month from 4,051 units in May 2012. "We have achieved an overall growth of 5 percent in our domestic volumes during May 2013 for our automotive sector, in spite of a challenging environment. The growth in capital investment and private spending have also slowed down which is a cause for concern," M&M Chief Executive (Automotive Division) Pravin Shah said.

He said the company was cautiously optimistic of the situation and do hoped that on the back of the new product launches, the auto industry will rev up sooner than later.