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Mahindra Unplugs Electric Car Sales In Blighty, Blames Brexit
Mahindra has stopped sales of the e2O in the United Kingdom and is winding up electric car sales in the country less than a year after the new car was launched in the country.
Mahindra has stopped sales of the e2O electric car in the United Kingdom and is winding down its sales in the country.
The news of Mahindra less than a year after it launched the e2O in the United Kingdom, was revealed by a document seen by Reuters and is a major blow in the carmaker's global ambitions.
In a letter to one of its customers in the UK dated April 10, Mahindra stated, "The level of e2o sales achieved is at an untenable level for us to maintain the investment required, hence our decision to cease trading at Mahindra UK with immediate effect." The Indian carmaker has stopped sales of the e2O, cancelled all pending orders and is buying back its cars from customers at the price they paid for it.
In an emailed response to Reuters, a Mahindra spokesperson confirmed the news stating, "Immediately post-Brexit, the e2o has not met the desired sales targets as per the plans for the UK market." However, the spokesperson also stated that Mahindra would "reconsider the UK market at an opportune time."
Despite Mahindra's claims of Brexit affecting its sales of the e2O in the UK (prices for thecar in the country started at £12,995 or Rs 10.79 lakhs), car sales in the island nation hit a record high of 2.69 million vehicles in 2016.
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