Homegrown automakers, Tata Motors Ltd , and Mahindra and Mahindra Ltd on Tuesday announced a sharp decline in wholesale dispatches during May, on a sequential basis, as production activity at factories were hampered by the explosive rise in cases of covid-19. Tata Motors reported a 40% month-on-month decline in sales of its passenger vehicles to 15181 units when compared to 25095 units in the preceding month. Mahinda and Mahindra also reported a 56.22% drop sequentially in its domestic passenger vehicle wholesale to just 8004 units in May. XUV300 has been a tremendous success and continues to see strong demand. With the cases coming down and the gradual opening up of markets, we foresee a strong demand rebound.

Source: Mint June 01, 2021 09:55 UTC