Mahindra sales down 1.65% to 51,149 units in October

Auto major Mahindra and Mahindra today reported 1.65 per cent decline in total sales at 51,149 units in October.

It had sold 52,008 units in the same month last year, M&M said in a statement.

In the domestic market, its sales grew marginally to 48,818 units last month compared to 48,729 in October 2016.

Exports declined by 28.91 per cent to 2,331 units in October against 3,279 units in the year-ago month.

Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, dipped by 5.35 per cent at 23,413 units compared to 24,737 units in the same month last year.

Commercial vehicle sales increased by 6.76 per cent to 19,279 units in October against 18,059 units in the year-ago period, M&M said.

M&M President Automotive Sector Rajan Wadhera said: "The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently."

Last year all festivals were in October and the industry volumes had a high base, he added.

"This year, September and October combined, we have grown by 7.9 per cent in auto division. Going forward we enter into a year-end period of lower sales," Wadhera said.

The company expects to sustain the growth momentum for the remaining period of the current financial year on the back if refreshes and new variants that have been launched, he said.