Mahindra has recorded a sales growth of 4 per cent in September 2020 selling 14,857 units as compared to 14,333 units it sold in the same month last year. The increase in sales in predominantly attributed to SUVs that recorded a growth of 6 per cent at 14,663 units as compared to 13,858 units that were sold a year ago. That said, the sales of cars slumped by 59 per cent 194 units as compared to 475 units that were sold in September 2020. The slump in car sales is also because Mahindra‘s product line-up is dominated by SUVs and the e-Verito electric car is the only car in its portfolio.
Commenting on the performance, Veejay Nakra, Chief Executive Officer, Automotive Division – Mahindra said, “At Mahindra, we are happy to witness a growth of 6 per cent in Utility Vehicles. It is also encouraging to see that the enquiry and booking levels in September were significantly higher compared to the previous months, both for UVs and SCVs. With market sentiments indicating a robust festive demand across segments, both in rural and urban markets, we are positive that this festive season will augur well for us as well as the automotive industry.”
Mahindra commercial vehicles (CV) sales in the same month remained flat at 18,907 units as compared to 18,872 units which were sold in the same month last year. Sales of three-wheelers went down by 92 per cent at 587 units as compared to 7487 units a year ago. The figure also reflects the fall in preference of even last mile shared mobility solutions, post the COVID pandemic. Moreover, public transports like metro rails and buses in metro cities were also not operating at full capacity which affected the last mile connectivity business.
Mahindra’s overall sales in the domestic market (PV + CV + three-wheelers) went down by 16 per cent at 34,351 units against 40,692 units which were sold in the same period last year. Its exports also went down by 41 per cent at 1569 units as compared to 2651 units in the same month last year. The company’s total sales (Domestic + Exports) witnessed a drop of 17 per cent in September 2020 at 35,920 units as compared to 43,343 units in the same month last year.