Mahindra reports a steep decline in 2013 sales

Mahindra & Mahindra Ltd’s passenger vehicles segment (which includes UVs and Verito) sold 166,622 units in 2013 as compared to 203,447 units during 2012, a decline of 22 per cent. India’s leading SUV maker’s domestic sales for December stood at 36,881 units in 2013 as compared to the 42,307 units sold during December 2012. 

Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “During the first nine months of the current fiscal, the auto industry has seen a negative growth due to sustained deceleration in economic activity and consequent weakness in consumer and business sentiments. While the immediate turn around in the auto industry is not expected without certain policy corrections and support, the worst seems to be over. At Mahindra we continue to focus on customer centricity and do hope that the New Year will bring in the much needed cheer for the Auto Sector."

Mahindra is one of the companies in India that was badly hit by the weak economy and again its mainstay, the Scorpio, lost out to modern SUVs like the Duster. Although their position as the No.1 SUV maker is intact, Mahindra will definitely try to bounce back stronger in 2014.