Mahindra & Mahindra Sees Slight Drop in August Sales

Mahindra & Mahindra reported a 1% decrease in total sales for the month of August, reaching 75,901 units compared to 76,755 in the previous year. This slight decline reflects a broader trend within the industry as companies adjust to market dynamics.

The utility vehicles segment saw a considerable dip of 9% in the domestic market, with sales falling to 39,399 vehicles. However, tractor sales provided a silver lining as they increased to 26,201 units domestically, up from 20,518 in the same period last year, as noted in Mahindra & Mahindra's regulatory filing.

Nalinikanth Gollagunta, CEO of Mahindra's Automotive Division, attributed the changes to strategic decisions surrounding GST policies, aiming to minimize dealer stock ahead of the final GST announcement. Despite a 9% dip in the trucks and buses segment, investor confidence appeared strong, with shares rising 2.93% on the BSE.

(With inputs from agencies.)