Mahindra & Mahindra, the homegrown automajor, sold a total 35,175 units in the month of August against the 37,897 units which it sold during the last year in August. The passenger vehicle division which comprises of the SUVs and Verito could also maintain steady sales.
Mahindra sold 14,140 units of its passenger vehicles in August 2014 as compared to the 15,821 units that company sold in August last year. The domestic sales also suffered as the company went on to sell 33,145 units of its vehicles nationwide, while last year, in month of August, it had sold around 35,159 units. The company's saving grace was the lone 3-wheeler segment where it recorded a 6 percent growth. Pravin Shah, Chief Executive, Automotive Division & International Operations(AFS), Mahindra & Mahindra Ltd. commented on the same, "In spite of our overall sales remaining flat in August, we continue to be optimistic due to the industry’s enhanced business confidence which is reflected by the manufacturing sector showing signs of revival. We do hope that the government continues to drive the agenda of reforms together with execution which would spur investments. The automotive industry, including us, is hopeful of a better demand leading up to the ensuing festival season ".
Recently, the company had made an announcement regarding its additional investment of Rs. 4,000 crore at its Chakan plant in Maharashtra. The Mahindra Group head-honcho Mr. Anand Mahindra commented on the same, "The Mahindra Group would like to express its deep and sincere gratitude to the Government of Maharashtra for its visionary industrial policies and efficient governance practices. This has prompted us to take the decision to scale up our world class Chakan plant, making Maharashtra a key partner in our growth over the coming years".