M&M sells 3384 passenger vehicle units in March 2020, slump of 88pc

Mahindra & Mahindra Ltd. (M&M Ltd.) sold a total of 3384 units of passenger vehicles in March 2020 (domestic as well as exports) as compared to 27,646 units in the corresponding period last year.  This meant, the company witnessed a fall of 88 per cent in sales.  

Utility vehicle sales slumped from 25801 units in March 2019 to a mere 3111 units in March 2020. As for cars and vans, in March 2020 it stood at 273 units while in March 2019 it was 1845 units.

For the full fiscal, the company sold a total of 186978 units in March 2020 as compared to 254701 units in March 2019. Of this utility vehicles accounted for 179405 units in March 2020 and cars + vans accounted for 7573 units for March 2020. The domestic sales include sales made in subsidiary company Mahindra Electric Mobility.

Sales Summary March 2020

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

Commenting on the performance, Veejay Ram Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “Our performance in March has been muted on account of the impact of the current lock-down related to Covid-19 and the disruption in our BS VI ramp-up plan. The latter was planned between February and March but was affected due to the challenges of parts supply from global and local suppliers. We have been able to clear our BS IV inventory, but for fewer than 100 vehicles. However, there are many vehicles that are sold, but not yet registered because of the closure of RTOs.”