HOMEGROWN auto and tractor major
Net sales on a standalone basis during the April- June quarter declined marginally to `
During the quarter under review, revenue from automotive segment stood at `
In the June quarter, in spite of the stiff competition, the company sold 52,180 utility vehicles and continued its leadership with the market share of 40.5 per cent. M& M is facing stiff competition from newly launched sport utility vehicles such as Ford India's EcoSport,
The company exported 6,565 vehicles in the quarter under review.
M& M expects the tractor sector, where it is the dominant player, to grow by five per cent in the current financial year down from its previous forecast of eight per cent. " This is a result of delayed monsoon ... and though it has improved a bit but there is already a loss of sowing so we would see less agricultural output this year," said
Mahindra's tractor sales went up by one per cent in the April- June quarter. Goenka said that if the recent pick- up in monsoon continues, as forecast by weather experts, the second half of the year could see better growth.
Afer two consecutive years of decline, sales of passenger cars in
Mahindra also plans to launch three passenger vehicles and two commercial vehicles over the next 15 months in an attempt to win back sales and market share.
Most Popular Stories
- Bently Creates Alabama Small Business Commission
- When to Say No to Investors, Yes to Mentors
- Bolivar Appointed to NSHMBA National Board
- Rosneft Growth Slowed by Western Sanctions
- Duke Energy, Strata Partner on Big Solar Project
- SBA Kicks off Hispanic Heritage Month
- Lindsay Lohan Claims She Handled Whitney Houston's Body Bag
- Hispanic Buying Power Slow but Growing in South
- Ukraine Offers Temporary Autonomy to Rebel-held Areas
- Thousands Risk Losing Health Care Aid