Mahindra & Mahindra auto sales down 3%

Auto-maker Mahindra & Mahindra today reported 3% decline in total sales at 36,706 vehicles in May.

It had sold 37,869 units in the same month last year, M&M said in a statement.

In the domestic market, its sales were down 6% to 33,369 units last month as against 35,499 units in the same month of last year.

Exports were up 40.8% at 3,337 vehicles as against 2,370 units in the same period a year ago.

Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 18,135 units as compared to 19,470 units in May 2014, down 6.85%.

Commercial vehicle sales were down 7.23% to 11,407 units last month against 12,297 units in the year-ago period, M&M said.

Commenting on the outlook, M&M Chief Executive (Automotive Division) Pravin Shah 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."

He further said: "At Mahindra we hope to see improved sentiments with higher level of economic activities..."