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.
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.
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"Going forward we are working with our supplier partners to gear up our supply chain and meet the market demand," Nakra said.