The sales declined 43 percent to 30,083 units against 52,799, while exports were down 40 percent at 1,831 vehicles, YoY.
Mahindra and Mahindra (M&M) share price slipped 6 percent intraday on March 6 after the Mumbai-headquartered company reported poor production and sales numbers for February 2020.
The company's February production was down 56 percent to 25,643 vehicles against 58,231 units in the year-ago period.
The sales also declined 43 percent to 30,083 units against 52,799, while exports were down 40 percent at 1,831 units, YoY.
Mahindra Holidays & Resorts India (MHRIL), a subsidiary of the company, said that Are Villa 1 AB and Are Villa 2 AB have ceased to be the subsidiaries of Holiday Club Sweden AB and in tum of Holiday Club Resorts Oy, Finland and in tum of MHRIL.
Consequently, Are Villa 1 AB and Are Villa 2 AB ceased to be the subsidiaries of the company from March 4.
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