Mumbai: Mahindra & Mahindra (M&M)’s April sales declined about 9% year-on-year (YoY) to 43,721 units, the company said. Mahindra’s both passenger vehicle (PV) and commercial vehicle (CV) portfolios recorded a decline of 9% YoY in sales in April. In the cars and vans category, M&M sold 1,118 units as against 1,556 units in April last year, a decline of 28%. The company said domestic sales included the sales made by its subsidiary Mahindra Electric Mobility Ltd.“The ongoing election has subdued the purchase sentiment during April. Supported by a normal monsoon, we are confident of seeing higher sales in FY20," said Rajan Wadhera, president, automotive sector, M&M reasoning out the decline in sales.

Source: Mint May 02, 2019 08:37 UTC