Mahindra 038; Mahindra May sales down 1.2

In May this year,Mamp;M8217;s domestic sales stood at 42,104 units as against 39,938 units in the same month last year,up 5.4 per cent.

Total sales of passenger vehicles,including Scorpio,XUV500,Xylo,Bolero and Verito,stood at 22,244 units as against 21,154 units in May 2012,up 5.15 per cent.

Sales of the company8217;s commercial vehicles,including Gio and Maxximo mini-trucks,registered 12 per cent growth,at 14,848 units,it said.

The company,however,said sales of its three-wheelers declined by 7 per cent to 4,028 units during May,2013 from 4,320 units in the same month last year.

Commercial vehicle sales from Mahindra Navistar Automotives Ltd stood at 984 units during the month as against 1,210 units in the same month a year ago,a fall of 19 per cent.

Mamp;M8217;s exports declined by 67 per cent to 1,356 units during the month from 4,051 units in May 2012.

8220;We have achieved an overall growth of 5 per cent in our domestic volumes during May 2013 for our automotive sector,in spite of a challenging environment. The growth in capital investment and private spending have also slowed down which is a cause for concern,8221; Mamp;M Chief Executive Automotive Division Pravin Shah said.

He said the company was cautiously optimistic of the situation and do hoped that on the back of the new product launches,the auto industry will rev up sooner than later.