Mahindra & Mahindra sales decline 2.92% to 42,714 units in February

Mahindra &Mahindra

  Auto major Mahindra & Mahindra on Wednesday reported 2.92 per cent decline in total sales at 42,714 units in February.

The company had sold 44,002 units in the same month last year, M&M statement said.

In the domestic market, sales were down 2.26 per cent at 40,414 units last month compared to 41,348 units in February 2016, it added.

Exports were down 13.33 per cent at 2,300 units in February against 2,654 units in the same month last year.

Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were down 13.12 per cent at 20,605 units compared to 23,718 units in the same month last year.

Commercial vehicle sales were up 18.17 per cent at 16,383 units in February against 13,864 units in the year-ago period, M&M said.

Commenting on the sales performance, M&M Chief Executive (auto division) Pravin Shah said: "The auto industry is seeing some positive trends emerging over the last two months. With rural sentiments improving, we believe there will be a turnaround in demand over the next few months for small commercial vehicles space."

He further said the industry is also waiting for the implementation of the BS IV from April 2017.

"At Mahindra we have geared the supply chain so that there is no strain in moving to meet the new emission norms. We also hope that the impending implementation of GST will provide a veritable boost to the auto industry and the economy in general," Shah said.