Mahindra and Mahindra reports 42% decline in sales
Auto major Mahindra and Mahindra (M&M) on Sunday reported a 42 per cent decline in total sales at 32,476 units in February.
The company had sold 56,005 units in the same month last year, M&M said in a statement.
In the domestic market, sales were down 42 per cent to 30,637 units last month as compared with 52,915 units in February 2019.
Exports dropped 40 per cent to 1,839 units as compared with 3,090 units in the year-ago month.
In the passenger vehicles segment, which includes utility vehicles, cars and vans, M&M sold 10,938 vehicles in February this year as against 26,109 vehicles in the same month last year, a decline of 58 per cent.
Commercial vehicles sales fell 25 per cent to 15,856 units as against 21,154 units a year ago.
In the medium and heavy commercial vehicles segment, M&M sold 436 vehicles during the month as against 686 units in the year-ago month.
'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,' Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd said.
This has resulted in a high de-growth in billing volume for February and dealer inventory is now under 10 days, he said.
'Going into March, we anticipate the challenge on parts-supply to continue for another few weeks, before we get back to normalcy,' he added.