Mahindra reports sales dip of 25 per cent, but passenger vehicle sales rise
Auto major Mahindra & Mahindra (M&M) on Monday reported 25.49 per cent decline in total sales at 39,149 units in January.
The company had sold 52,546 units in the same month last year, M&M said in a statement.
In the domestic market, passenger vehicle sales were up 4 per cent to 20,634 units last month, compared to 19,797 units in January 2020.
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Exports increased by 30 per cent to 2,286 units in the month under review, as against 1,761 units in the year-ago month.
In the commercial vehicles segment, the company sold 16,229 vehicles as against 30,988 units earlier, a dip of 47.62 per cent.
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"We have witnessed a growth of 5 per cent in utility vehicles for the month of January. We have also seen strong bookings fuelled by continued demand," M&M Automotive Division CEO Veejay Nakra said.
Supply shortage of micro-processor semiconductors continues to be a serious challenge for the auto industry, he noted.
"Going forward we are working with our supplier partners to gear up our supply chain and meet the market demand," Nakra said.
