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Investment Guru India 2020-08-01 03:45:23

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Automobile major Mahindra and Mahindra (M&M) on Saturday reported a 36 per cent fall in its total sales during July, on a year-on-year basis.

In a regulatory filing, the company said that it sold 25,678 units, including exports, last month, compared to 40,142 vehicles sold during the same period last year.

Similarly, the company reported a fall of 35 per cent in domestic sales last month.

It sold 24,211 units during the period under review from an off-take of 37,474 units in July 2019.

M&M exported 1,467 units in the month under review down from 2,668 vehicles which were shipped out in July 2019.

Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M 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."