Mahindra recently released its sales figures for June 2019. As per the data, in spite of the sluggishness in the Indian auto market, the company has managed to record a positive sales growth in the Passenger Vehicles (PV) and Utility Vehicles (UV) segments.
The company sold 17,723 Utility Vehicles (UV) compared to 16,408 units sold in June 2018, which equates to a direct 8% growth. Overall, the company sold 18,826 passenger vehicles, which comprise of cars, vans and Utility Vehicles, which lead to a 4% growth compared to 18,137 vehicles sold in the corresponding month of last year.
The positive sales growth figure last month has enabled Mahindra to post a stable overall performance in Q1 2019-20. It may be noted here that the positive sales growth in the months following a dip in April 2019 has helped the company prevent its overall sales performance from adopting a negative trend. Compared to the Q1 2018-19 sales of 56,074 units, Mahindra has reported an almost negligible growth with 56,095 units sold in Q1 2019-20. In terms of exports, Mahindra recorded a 11% dip as it exported 3,076 vehicles in previous month compared to 3,466 units exported in the corresponding month of 2018.
In the Commercial Vehicle segment, Mahindra recorded a sale of 16,394 vehicles last month, which is a drop of 15% when compared to 19,229 vehicles sold in June 2018. While talking specifically about Medium and Heavy Commercial Vehicles segment, the company reports a 36% sales decline as it sold 705 units compared to 1,108 units sold in June 2018.
Speaking on the performance of the company, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra, said
The market sentiment continued to remain subdued, especially in the Passenger Vehicles segment. At Mahindra, we are happy to register a growth of 4% in the Passenger Vehicles segment and 8% in the Utility Vehicles segment, on the back of our three recent product launches. Further, we continued to correct our channel inventory both in the personal and commercial vehicle segments in June 2019.