Mahindra’s cv sales drops by 18pc in July 2020

Date: 02 Aug 2020

Mahindra & Mahindra Ltd. (M&M Ltd.) company sold 13,103 vehicles in July 2020, as against 15,969 vehicles in July 2019 in the commercial vehicles segment. CV sales have dropped by (-) 18 per cent for the month, compared to July 2019. The worst affected were LCV more than 3.5T. It dropped by (-) 92 per cent to 55 units as compared to 678 units in July 2019. Medium and Heavy commercial vehicles too saw sales of a mere 70 units in July 2020 as compared to 417 units in July 2019.

The company’s overall (passenger plus commercial vehicles) automotive sales (Domestic + Exports) stood at 25,678 vehicles in July 2020, compared to 40,142 vehicles during July 2019.

Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “At Mahindra, we are happy to see a growing trend in our overall vehicle sales, buoyed by the continuing revival in demand, primarily in rural and semi urban India. It is encouraging to see that the enquiry and booking levels in July are significantly higher compared to June, both for Utility Vehicles and Small Commercial Vehicles. As we ramp up production, the biggest challenge is on the supply side and working around these challenges is our top priority.”

 

Sales Summary July 2020

Category

July

YTD July

F21

F20

% Change

F21

F20

% Change

Commercial Vehicles

13103

15969

-18%

28690

67563

-58%

LCV < 3.5T

12978

14874

-13%

28431

62342

-54%

LCV > 3.5T

55

678

-92%

99

2988

-97%

MHCV

70

417

-83%

160

2233

-93%

3W

83

4674

-98%

135

17810

-99%

Total Domestic Sales (PV + CV)

24211

37474

-35%

51792

161604

-68%

Total Exports (PV+CV)

1467

2668

-45%

3537

10227

-65%

Total Sales (Domestic + Export)

25678

40142

-36%

55329

171831

-68%

*Above Domestic Sales Includes sales made in subsidiary company Mahindra Electric Mobility Ltd

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