It looks like the July 2018 was not a very good month for most automakers. Mahindra’s Passenger Vehicles segment (which includes Utility Vehicles and hatchbacks) sold 19,781 vehicles in July 2018, as against 21,034 vehicles in July 2017, registering a decline of 6%.
However, the company’s domestic sales touched 44,605 vehicles in July 2018, registering a growth of 12%. In the Commercial Vehicles segment, the company sold 19,284 vehicles in July 2018, registering a 28% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 866 vehicles for the month, a growth of 32%. Exports for July 2018 stood at 2,594 vehicles, a growth of 31%.
Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “The auto industry has been subject to certain uncertainties with the truckers strike and sluggishness on the retail front which has impacted the passenger vehicle segment. Demand for our commercial vehicles continues to be strong and the newly launched Furio range of ICVs augurs well for our M&HCV business. As we move into the festive season, we are confident of seeing a turnaround in the overall buying sentiment, coupled with the just announced Mahindra Marazzo, which is scheduled for launch next month”.