Mahindra has suffered degrowth as high as 90% in the month of May 2020 due to ongoing unprecedented situation
Mahindra & Mahindra Ltd. (M&M Ltd.), India’s largest SUV manufacturer with successful vehicles like Scorpio, Bolero in portfolio and a part of the USD 20.7 billion Mahindra Group has released the monthly sales for the month of May 2020. As expected, the sales have tumbled manifold due to the impact on production and sales.
As per the data released, Mahindra retailed only 3,867 units in the month of May 2020 in the Passenger Vehicles segment which includes Utility Vehicles, Cars and Vans. When compared to the sales data of same period last month that’s a massive dip of more than 85%. Mahindra sold 20,608 vehicles in May 2019 for comparison.
Mahindra and Mahindra, which is a big name in Commercial Vehicles segment selling trucks and buses too, has sold 5,170 vehicles in May 2020, as against 17,879 vehicles in May 2019 and more than that of passenger vehicles.
The data reveals the public sentiments towards personal vehicles as more people are buying vehicle for important business related work and holding decision to buy cars till situation improves.
Not just domestic sales, exports for the month of May 2020 stood at 484 vehicles. The company’s overall automotive sales stood at 9,560 vehicles in May 2020, compared to 45,421 vehicles during May 2019 including both domestic and export sales, a dip of around 80%.
Mahindra has now commenced operations in production plants and as per Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., 70% of company’s dealerships and retail sales have begun. He also said that initial traction is sales is towards small commercial vehicles and SUV brands such as the Bolero and Scorpio.
The sales data released by Mahindra also includes electric vehicles like e2O Plus and eVerito. Mahindra will be launching the all-new Thar in the coming months and it has been spied many times.