Mahindra’s March sales down 12% YoY

Mahindra’s sales fell to 45,212 units during the month of March 2014, having crossed the 50,000 mark during the same period last year.

The company’s sales fell sharply in the domestic market at a time when exports saw a growth of 28%. Mahindra only managed to sell 41,193 units in India during the recently concluded month, having sold 48,890 vehicles during March 2014.

However, with stable petrol and diesel prices and an expected easing of interest rate, Mahindra expects to fare better in the new financial year.

“With factors such as expectation of normal monsoon, settling down of petrol and diesel prices and the likely softening of interest rates, we expect the auto industry to perform better, in FY2016,’’ said Pravin Shah, chief executive, Mahindra automobile division. “As a lead indicator, we have already seen the impact in segments such as the HCV, which is on a recovery path. At Mahindra, while we have performed reasonably well on all our flagship products, we are particularly happy with our performances in HCV and Exports, which have grown by 22% and 28% respectively, in March 2015. Going forward, we expect to perform better on the back of all these factors coupled with our planned new launches”.