Mahindra & Mahindra September sales down 10%

Auto-maker Mahindra & Mahindra today reported a 10.45 percent decline in its total sales at 43,289 units in September, 2013.

The company had sold 48,342 units in the same month last year, Mahindra & Mahindra (M&M) said in a statement. In September this year, M&M's domestic sales stood at 40,574 units as against 45,263 units in the same month last year, down 10.35 percent.
Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 18,916 units as against 23,808 units in September, 2012, 20.54 percent.
Sales of the company's four-wheel commercial vehicles were up 2 per cent at 14,709 units as against 14,417 units in September, 2013, it said. Its three-wheelers sales were up by 5.86 percent to 6,403 units during September, 2013 from 6,048 units in the same month last year.
M&M's exports too were down by 11.88 percent to 2,715 units during the month from 3,079 units in September, 2012.
Commenting on the sales performance, M&M Chief Executive (Automotive Division) Pravin Shah said: "While there has been a growth over August 2013, it is not to the extent that makes us comfortable, especially as we approach the festive season."
Factors such as increase in input and raw material costs and the depreciating rupee have not helped, he added.
"To compensate to some extent we have taken a price increase effective today. The auto industry is definitely in need of a trigger in terms of a stimulus to boost consumer sentiments leading to a turnaround in the sector as well as a revival of the economy in general," he added.
Last week, the company had announced plans to hike the prices of its passenger cars and commercial vehicles by Rs 6,000 to Rs 20,000 from October 1.