Mahindra has recorded a year-on-year decline of 81 per cent in passenger vehicle sales in May 2020. The company sold 3867 units last month c...
Mahindra has recorded a year-on-year decline of 81 per cent in passenger vehicle sales in May 2020. The company sold 3867 units last month compared to 20,608 units sold in the same month last year. Its utility vehicle sales also went down by 81 per cent last month at 3745 units as compared to 19,524 units sold a year ago. Sales of cars and vans further dropped by 89 per cent at 122 units when compared to 1084 units sold in the May 2019. Like other automakers, even Mahindra's sales have taken a hit from the coronavirus crisis as 30 per cent of its dealerships in containment zones (mostly in metro and tier 1 cities) remain closed.
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Sales of UVs went down by 81 per cent.
Commenting on the performance, Veejay Nakra, Chief Executive Officer (CEO)- Automotive Division- Mahindra said, "Our performance during May has been muted, due to the challenges the industry is facing. We have opened 70 per cent of our dealerships and retail sales have begun. We are seeing initial traction for our small commercial vehicles and SUV brands such as the Bolero and Scorpio. As new lockdown norms are being announced we are hopeful of demand gaining traction in the coming months."
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Mahindra's exports went down by 80 per cent.
Sales of Mahindra's commercial vehicles including light commercial vehicles and medium & heavy commercial vehicles slumped by 71 per cent at 5170 units compared to 17,879 sold a year ago. Three-wheelers sales went down by a whopping 99 per cent selling just 39 units last month as compared to 4569 units a year ago. Mahindra's overall sales in the domestic market stood at 9076 units, down by 79 per cent when compared to 43056 units sold in the same month last year. Its exports dropped by 80 per cent at 384 units as compared to 2365 units in May 2019. Total sales (Domestic + Exports) stood at 9560 units in May 2020, a drop of 79 per cent when compared to 45,421 units sold in the same month last year.
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