Coronavirus impact: Mahindra sales down by 88% in March 2020

Published On : 09 April 2020
By Tarashekhar Padhy

Mahindra introduced the income numbers for the month of March 2020, which took a huge dive of 88%. Last month the organization's total sales stood at 7,401 units, in comparison to the 62,952 cars offered in the course of the same month. The agency's domestic sales took a far bigger hit with a decline of 90%, at 6,130 automobiles against the 59,012 automobiles bought with the aid of the organization in March 2019. As for the business enterprise's exports, the remaining month it dropped 68 according to cent at 1,271 units, compared to the 3,940 motors exported for the duration of the equal length in 2019.

The organization's poor performance is a direct result of the coronavirus outbreak and the lockdown issued by the government to incorporate it. The corporation has suspended production at its Mumbai, Pune, and Nagpur plants, and with the lockdown, Mahindra sellers have misplaced 1/3rd of income days in March. The organization says that the COVID-19 pandemic has also disrupted its plan to ramp-up the production of BS6 vehicles.

Commenting on the overall performance, Veejay Ram Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. addressed the media, about the unforeseen and financially challenging situation faced by the automaker. In the Passenger Vehicles segment, which incorporates SUVs, MPVs, Cars, and Vans, Mahindra's total income stood at 3,384 cars in March 2020, a decline of 88%, in comparison to 27,646 cars offered in March 2019. As for the Commercial Vehicles segment, the carmaker bought 2,325 cars in March 2020, witnessing a de-increase of 90%, as against 24,423 motors bought in March 2019.