Mahindra and Mahindra’s sales fall 25 percent in August

Homegrown auto major Mahindra and Mahindra (M&M) on Sunday reported a 25 per cent fall in total sales to 36,085 units in August.

The company had sold 48,324 units in the corresponding month last year, M&M said in a statement.

In the domestic market, sales were down 26 per cent to 33,564 units last month, compared to 45,373 units in August 2018.

Exports declined 15 per cent to 2,521 units, against 2,951 in the year-ago month.

In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 13,507 units last month as compared to 19,758 vehicles in the same month of 2018, a drop of 32 per cent.

In the commercial vehicle segment, the company sold 14, 684 vehicles as against 20,326 units a year ago, down 28 per cent.

"The auto industry continues to be subdued in the month of August due to several external factors. We are optimistic and hopeful of a good festive season going ahead," M&M Chief of Sales and Marketing, Automotive Division Veejay Ram Nakra said.

(The story has been published from a wire feed without any modifications to the text, only the headline has been changed.)