Mahindra & Mahindra has today announced its auto sales for the month of February, 2015. So far, the manufacturers of vehicles in India have faced mixed fortunes in India. The 2015 Union Budget has not provided any sort of relief to the automotive sector.
The Indian manufacturer has reported selling 8,591 two-wheelers, out of which, 8,289 vehicles were sold in the domestic market. Mahindra also exported a few of their two-wheelers, which accounted for 302 vehicles during February, 2015.
Mahindra managed to sell 18,103 units of utility vehicles and other passenger cars it offers in India during February, 2015. In the same month of the previous year, the manufacturer sold 19,308 automobiles. They faced a drop of six percent in February, 2015 when compared with February, 2014.
Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. expressed, "The auto industry has not seen any major changes in the Union Budget 2015-16. However looking at the overall budget proposals including planned spend on infrastructure and social reforms, we expect positive sentiments going forward."
He also said, "Further, with an expected revision in lending rates in the RBI policy in early April, the industry should see better times ahead. At Mahindra we are happy with our performance in Exports and the HCV segment where we have seen good growth."
During February 2014, the Indian manufacturer sold 14,701 four-wheeler commercial vehicles, while in the same month of 2015 they could only manage 11,928 units. This was a drop of 19 percent, however their LCV and HCV products increased sales by 21 percent. They sold 731 units in February, 2015, while in February, 2014 they sold only 605 units.