M&M Feb auto sales plunge 42% to 32,476 units

Mumbai, March 1 (SocialNews.XYZ) Mahindra & Mahindra on Sunday reported a 42 per cent fall in its total vehicle sales in February at 32,476 units.

The company had sold 56,005 units in February 2019.

Its domestic sales last month stood at 30,637 units, 42 per cent lower than 52,915 vehicles sold in February 2019, the company said in a regulatory filing.

"In the passenger vehicles segment (which includes utility vehicles, cars and vans), Mahindra sold 10,938 vehicles in February 2020, compared to 26,109 vehicles in February 2019," it said. In the commercial vehicles segment, the company sold 15,856 vehicles during the period under review, as against 21,154 vehicles during the corresponding period last year.

Mahindra sold 436 vehicles in the medium and heavy commercial vehicles segment in February 2020, compared to 686 units during the same month last year.

Its exports slumped 40 per cent to 1,839 units.

Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd said: "The ramp-down of BS-IV vehicle production has been in line with our plan for February. However, because of the unforeseeable challenges on the parts-supply from China, our BS-VI ramp-up has been affected."

"This has resulted in a high de-growth in our billing volume for February and our dealer inventory is, now, under 10 days. Going into March, we anticipate the challenge on parts-supply to continue for another few weeks, before we get back to normalcy," he said.

Source: IANS