Mahindra & Mahindra sells 23,582 commercial vehicles in October, down 3%
Modified On Dec 07, 2020 09:23 AM
Despite the fall in overall numbers, the company has registered a rebound in month-on-month sales as the small commercial vehicles and three-wheelers sales saw strong demand
Mahindra & Mahindra the second-largest commercial vehicle manufacture today releases its October 2019 overall CV sales figures. The company sold 23,582 units in the month, down by just 3%. This is a sizeable uptick after 18% and 28% of de-growth in September and August 2019 respectively. While the overall market appears to be negative in the month, a strong demand pull is visible on MoM.
The M&HCVs tanked by 41% to 402 units in the month (October 2018: 683 units). However, small commercial vehicles segments recorded greater traction in sales, the less than 3.5T GVW segment registered a sale of 22,725 units, a dip of marginal 2%. (October 2018: 23,157 units). Those greater than 3.5T segment down by 11% to 455 units. On the MoM basis, both the segments posted higher growth pointing demand-pull in the market.
M&M's three-wheeler segment posted a single digit of 3% growth with a total sale of 7,151 units. (October 2018: 6,931 units) in the month.
Commenting on the company’s performance in the overall automotive division, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M said, “The festive month of October 2019 was excellent for Mahindra, with retail volume exceeding wholesale by approximately 40%. This robust retail performance was contributed by both passenger & commercial vehicles. Further, our billing numbers are in line with what we had planned for the month since the objective was to significantly correct our channel inventory. We hope to see the positive consumer sentiment continue going forward.”