Latest Car News in India

Finally the things have started revealing their worst impacts. Going through the slow sales since the beginning of this year in the Indian car market, domestic car maker Mahindra & Mahindra has halted the production of passenger vehicles for the next thirteen days. According to sources, the company recorded a decline of 17.07 percent in the recent months which was the highest decline in the sales during the last eight years. As an impact of this the company had to take the decision of stopping the production of its vehicles due to low demand.

 

 

On the basis of the sales statistics revealed by the company source it has sold 43,712 vehicles during the month of April 2019 as against 48,097 vehicles sold during the same period last year, thus recording the decline of 9 percent. The same decline is also witnessed in the sales of commercial vehicles which recorded the decline of 9 percent as compared to the last year. During the month of April 2018 company sold out 18,963 units of the commercial vehicles whereas during the month of April this year it could only sale 17,321 vehicles. The same decline was recorded in the exports. However, the sources of company said that going through the recent launches of XUV300 and Marazzo it expects to witness boost in the sales by introducing their automatic variants.

 

The management of the company has issued a notice to the Bombay Stock Exchange saying, “"The Company at its Automotive Sector and Farm Equipment Sector, and Mahindra Vehicle Manufacturers Limited, a wholly owned subsidiary of the Company ('MVML'), as part of aligning its production with sales requirements, would be observing ''No Production Days'' ranging between 5 - 13 days in various plants of the Company and MVML during the first quarter of the Financial Year 2019-2020. The Management does not envisage any adverse impact on the availability of vehicles in the market due to the adequacy of vehicle stocks to serve the market requirements."