M&M Sales Drop In October On Export Slump

Mahindra and Mahindra Ltd. sales fell in October, dragged down by a 29 percent slump in exports.

The company sold 51,149 units last month, down 2 percent year-on-year from the same period last year, it said in an exchange filing.

The utility and passenger vehicles segment fell 6 percent to 22,040 units and 5 percent to 23,41,3 respectively. Its exports decreased 29 percent year-on-year to 2,331 units, the filing said.

Segment Highlights

• Sales in the medium and heavy commercial vehicles segment rose 59 percent on a year-on-year basis to 748 units, thus making it the best performing segment.
• Commercial vehicles sales rose 7 percent and three-wheeler sales rose 3 percent to 6,126 units.
• Sales of light commercial vehicles of less than 3.5 tonne clocked 18,057 units, while LCVs of more than 3.5 tonne registered a growth of 17 percent.

Tractor Segment

The Mumbai-based automaker's tractor sales declined 11 percent to 40,262 units. The company sold 39,226 tractors in the domestic market, a fall of 10 percent year-on-year and exported 1,036 tractors.

Shares of Mahindra & Mahindra 0.6 percent to Rs 1,336 apiece after reporting the monthly sales figures.

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