Mahindra registers a downfall in March

In general, fiscal year 2013-14 was not that encouraging for Indian auto market in terms of sales figure. Many renowned brands had to face the music with negative response from buyers including country's largest SUV maker Mahindra and Mahindra. In the Passenger Vehicles segment (which includes UVs and the Verito), the home-grown manufacturer retailed a total of 23,433 units in March 2014 against the 25,847 units during March last year.

The manufacturer also witnessed a downfall in domestic sales as in March 2014, the automaker retailed a total of 48,490 units while in the 2013 it sold 49,225 units. In the 4-wheelers commercial segment, the company sold 17,649 units, while the 3-wheelers segment clocked 6,305 units in March 2014.

On the monthly sales report, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “Post the reduction in the excise duty across all segments, the auto industry has seen the level of inquiry going up, but has not witnessed any major surge in sales. We do hope that the sentiments improve and change post the national elections, leading to an increase in demand as well. At Mahindra, we are happy with our overall performance for the month of March where the de-growth is negligible at 0.5%. Going forward, we continue to be optimistic for the future and expect to witness a growth momentum during FY 2014-15.”