Mahindra and Mahindra has officially come out with its sales numbers for the month of April 2020 and expected, the company domestic sales, f...
Mahindra and Mahindra has officially come out with its sales numbers for the month of April 2020 and expected, the company domestic sales, for the first time ever, stood at zero units. This is a direct result of the nationwide lockdown issued on March 25, to prevent the spread of the coronavirus, leading to the suspension of both vehicle production and sales in India for the entire month. However, due to the resumption of port operations, the company was able to export 733 vehicles in April 2020. Mahindra saw a decline of 65 per cent in exports, as compared to the 2,118 units exported during the same month in 2019.
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Due to the nationwide lockdown issued to prevent the spread of COVID-19, both vehicle production and sales have been suspended in India since March 25
Commenting on the situation, Veejay Nakra, Chief Executive Officer, Automotive Division, Mahindra & Mahindra said, "At Mahindra, we are working hand in hand with all stakeholders, especially our dealer and supplier partners, to get our ecosystem started, once the lockdown is lifted. The safety of all our employees will be of paramount importance to us while resuming our operations. We are hopeful that our dealerships will open soon and have stocks to cover the first few weeks of sale. In the export market, we have sold 733 vehicles during April".
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Despite the lockdown, Mahindra's Farm Equipment Sector sold 4716 tractors in India during the month of April 2020
However, the company did witness a hint of positivity thanks to its Farm Equipment Sector, which sold a total of 4,772 tractors in April, because dealers were partially open for a few days last month. Domestic tractor sales for April 2020 stood at 4,716 units, an 83 per cent de-growth, as against 27,495 units sold during April 2019. Mahindra's Farm Equipment Sector also exported 56 units in April 2020, witnessing a decline of 95 per cent, as compared to the 1057 units exported during the same month last year.
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Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 4,716 tractors in the domestic market during April 2020. The extension of the national lockdown impacted the business, with dealers partially open for just a few days. Going forward, several positive factors including a good Rabi output, opening of procurement centres by the Government, indication of good crop prices, reservoir levels etc., augur well for tractor demand. However, the rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs, are normalized, following the relaxation of the lockdown. In the exports market, we have sold 56 tractors."
Mahindra has suspended operations at all its manufacturing facilities since March 22, 2020, the day of the Janata Curfew. Just a few days after the nation went into a 21-day lockdown, which was again extended till May 3, on April 14, due to the increasing number of coronavirus cases in the country.
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