Mahindra & Mahindra has reported a decline of 17.81% in total automotive sales in October.
According to the company sources, Mahindra recorded an overall sales figure of 20,282 units this October as compared to 24,679 units in the corresponding month last year.
Domestic sales turned out to be 19,899 vehicles, against the sales figure of 23,578 units last year. This clearly indicates that the domestic sales have gone down by about 15.6%. Exports in October 2008 stood at 383 units, which is nearly about 65.21% less as compared to the export figures in October 2007 when the export had reached 1101 units. The company has even reported a decline in the sales of utility vehicles from 16,711 units in October 2007 to 13,935 units this year.
With a slowdown in October car sales, Mahindra & Mahindra is worried about the future sales. Hope the coming month sway the current slow down and provides a cheerful start to the car manufactures.