Mahindra reports 10% decline in total sales for December

File photo: The logo of Mahindra and Mahindra is seen at a showroom in Mumbai

Mahindra & Mahindra (M&M) on Friday reported a 10.3 per cent decline in total sales at 35,187 units in December, 2020.

The company had sold 39,230 units in December 2019, M&M said in a statement.

In the domestic market, passenger vehicle sales were up 3 per cent to 16,182 units last month, compared to 15,691 units in December 2019.

In the commercial vehicles segment, the company sold 16,795 vehicles in the domestic market last month, as against 21,390 units in December 2019, a drop of 21.48 per cent.

Exports increased by 3 per cent to 2,210 units in December 2020, as against 2,149 units in the year-ago month.

"Our overall sales have been affected due to the continuing supply chain challenges related to the constantly changing global environment, more specifically the supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs)," M&M Chief Executive Officer Automotive Division Veejay Nakra said.

Demand continues to remain strong even after the festive season and as the company gets into the new year, he added.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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