The largest SUV manufacturer in India, Mahindra & Mahindra recorded a decline in total sales in June by 7.81% at 38,092 units from 41,322 units sold in June 2012. Mahindra's domestic market also reported a decline of 7.04%. The sales figure for Mahindra’s vehicles in the domestic market stood at 36,207 numbers, as compared to 38,951 vehicles sold last year.
M&M has registered sliding sales in its passenger vehicle segment which includes best selling models like Bolero, XUV500, Xylo and Verito. The auto maker’s export division too saw lowering of sales by 20.49 percent, selling 1,885 units in June in comparison to 2,371 units sold last year, in the corresponding month. However, the brand’s commercial vehicle segment reported growth of 5 percent selling up to 13,761 units.
M&M Chief Executive (Automotive Division) Pravin Shah told, "We have witnessed a de-growth in the month of June, 2013 amidst an overall decline in the auto industry. The depreciating rupee resulting in spiralling fuel costs coupled with high interest rates and the additional excise duty on SUVs has further dampened the industry without any substantial revenue to government.” He further expressed, some immediate assistance from the Government’s end to increase auto demand, can help the struggling industry to respite for a while.