Business

Mahindra’s June overall auto sales down 55%

Mumbai, July 1 (IANS) Automobile manufacturer Mahindra & Mahindra on Wednesday reported a decline of 55 per cent in its total vehicle sales in June 2020.

The company's total sales declined to 19,358 units from 42,547 units sold during the like period of the previous year.

Besides, the company reported a fall of 53 per cent in domestic sales last month. It sold 18,505 units during the period under review from an off-take of 39,471 units in June 2019.

Similarly, exports' plunged in June by 72 per cent.

M&M exported 853 units in the month under review from 3,076 vehicles which were shipped out in June 2019.

Commenting on the sales performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, said: “The automotive industry has started to see recovery both in the passenger and small commercial vehicle segments. This has been led primarily by rising rural demand and movement of essential goods across the country.”

“Our key brands such as Bolero, Scorpio and Pik-Ups, are all seeing good traction. Managing the supply chain will be our key focus area as we ramp up production to meet this increased demand.”

–IANS

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