While the news of a dip in sales might ring alarm bells, the UV Segment is actually coming back to health for Mahindra. Overall sales dipped 7 percent in May 2015 but UV sales dipped only 5 percent backed by the new Scorpio. The refreshed XUV500 will further bolster sales numbers from the coming month, which means Mahindra should be optimistic moving forward.
Mahindra's passenger vehicles segment sold 18,135 units in May 2015 as against 19,470 units during May 2014. A major chunk of these PV sales obviously include utility vehicles. 16,980 utility vehicles were sold in May 2015, five percent less than the 17,831 units posted in the same period last year. Car sales (Verito and Verito Vibe) fell a sharp 30 percent to 1155 units from 1,639 units.
Speaking on auto sales performance, Pravin Shah, President andamp; Chief Executive (Automotive), Mahindra andamp; Mahindra said, "The auto industry has been showing signs of recovery and it is important that factors like an interest rate cut if considered, would accelerate growth. At Mahindra we hope to see improved sentiments with higher level of economic activities and the launch of our New Age XUV500 which has received a good initial response. We are also happy with a 41% growth in our exports during the last month".
Mahindra is one of the main companies looking forward to the implementation of GST as taxation has impacted the SUV maker hard in the recent past. The enforcement of GST will come only in 2016 though, so Mahindra has a few tough months ahead.
from zigwheels http://ift.tt/1KJGl01
via IFTTT
0 comments:
Post a Comment