Interventions

Mahindra Mahindra s rural sales drop due to weak monsoon

Mahindra's vehicle sales fell 8.5 percent in the first four months of the fiscal year
Mahindra Mahindra s rural sales drop due to weak monsoon

Automaker Mahindra & Mahindra witnesses its vehicles in rural areas weakening because of deficient monsoon rains in parts of the country.

Monsoon deficiency is the biggest concern and will be a dampener for the industry, hurting sales growth, Pawan Goenka, executive director at Mahindra and president of its auto and farm sectors said.

India’s monsoon rains are likely to be below the prior forecast, the weather office chief said earlier on Wednesday, which could make it the driest year since 2009 and worsen rural incomes by cutting farm output.

Mahindra’s vehicle sales fell 8.5 percent in the first four months of the fiscal year started April 1, from the same period a year ago, while total passenger vehicles sales in India rose 7.5 percent.
 

- Advertisement -