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Coronavirus impact: M&M registers 79% decline in sales in May

Mahindra's exports for month stand at 484 vehicles; company's overall automotive sales comprising domestic and exports sale stood at 9,560 vehicles in May compared to 45,421 in May 2019

twitter-logoBusinessToday.In | June 1, 2020 | Updated 14:46 IST
Coronavirus impact: M&M registers 79% decline in sales in May
M&M sold 5,170 commercial vehicles in May against 17,879 in May 2019

Mahindra & Mahindra Ltd has reported 79 per cent decline in overall monthly vehicle sales in May. The company sold 3,867 vehicles in May in the passenger vehicles segment (which includes UVS, cars and vans) compared to 20,608 vehicles in May 2019. In the commercial vehicles segment, the company sold 5,170 vehicles in May as against 17,879 in May 2019.

Exports for the month stand at 484 vehicles. The company's overall automotive sales comprising domestic and exports sale stood at 9,560 vehicles in May compared to 45,421 in May 2019.

Also read: Coronavirus fallout: MG Motor sells 710 units in India in May

Commenting on the performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd said, "Our performance during May has been muted, due to the challenges the industry is facing. We have opened 70% of our dealerships and retail sales have begun. We are seeing initial traction for our small commercial vehicles and SUV brands such as the Bolero and Scorpio. As new lockdown norms are being announced we are hopeful of demand gaining traction in the coming months."

The auto companies were allowed to function with limited staff in phase four of the lockdown last month. However, the recovery in the sector has been dismal considering various restrictions imposed by state governments. India's largest carmaker Maruti Suzuki India also reported 89 per cent decline in sales in the domestic market as it managed to sell 13,865 units last month. In May 2019, it had sold 125,552 units.

MG Motor India reported retail sales of 710 units in May amidst supply chain constraints of coronavirus-induced lockdown. The company has resumed production at its Halol manufacturing plant with approximately 30 per cent capacity utilisation, MG Motor India said in a statement.

Also read: Coronavirus impact: Maruti registers 89% decline in sales in May 2020


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