Mahindra and Mahindra vehicle sales dip 79% in May to 9,560 units, exports fall 80%

Auto major Mahindra & Mahindra (M&M) on Monday reported a steep 79 percent decline in total sales at 9,560 units in May

Press Trust of India June 01, 2020 14:54:00 IST
Mahindra and Mahindra vehicle sales dip 79% in May to 9,560 units, exports fall 80%

New Delhi: Auto major Mahindra & Mahindra (M&M) on Monday reported a steep 79 percent decline in total sales at 9,560 units in May.

The company had sold 45,521 units in the same month last year, M&M said in a statement.

In the domestic market, sales were down 79 percent to 9,076 units last month compared to 43,056 units in May 2019.

Exports during the period under consideration dropped by 80 percent to 484 units as against 2,365 units in the year-ago month.

In the passenger vehicles segment -- which includes UVs, cars and vans -- it sold 3,867 vehicles in May, against 20,608 vehicles in the same month last year, down 81 percent.

Click here to follow LIVE news and updates on stock markets

In the commercial vehicles segment, the company sold 5,170 vehicles as against 17,879 units earlier, a dip of 71 percent.

"Our performance during May has been muted, due to the challenges the industry is facing," Veejay Ram Nakra, Chief Executive Officer, Automotive Division, M&M Ltd said.

The company has opened 70 percent of its dealerships and retail sales have begun, he added.

"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," Nakra said.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Single-use plastic making 'big comeback' across India amid COVID-19 pandemic, says environment activist
India

Single-use plastic making 'big comeback' across India amid COVID-19 pandemic, says environment activist

The lockdown had a good effect on the environment but the increased use of masks, gloves, sanitiser bottles to fight the pandemic has given rise to new concerns, said Anoop Nautiyal.

Maharashtra govt launches 'world's largest' plasma therapy project for COVID-19 patients; trials to be held in 21 medical colleges
India

Maharashtra govt launches 'world's largest' plasma therapy project for COVID-19 patients; trials to be held in 21 medical colleges

The project, titled 'Platina', is the largest convalescent plasma therapy-cum-trial project in the world, a state medical education department official said

COVID-19-hit US unlikely to be in EU's list of safe countries as Europe prepares to reopen to foreigners
World

COVID-19-hit US unlikely to be in EU's list of safe countries as Europe prepares to reopen to foreigners

European Union envoys are close to finalising a list of countries whose citizens will be allowed to enter Europe again, possibly from late next week, EU diplomats confirmed Saturda