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M&M sales down by three percent in July

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Chennai: Indian automobile major Mahindra & Mahindra Ltd (M&M) on Saturday said it closed last month with its sales down by three percent as compared to July 2014.

In a statement the company said it sold 34,652 units last month down from 35,567 units sold in July 2014.

“While the auto industry is currently seeing muted growth, we do believe that the launch of some exciting new products will help it turn the tide,” Pravin Shan, president and chief executive (Automotive) was quoted in the statement.

“In addition, with the advent of a good monsoon till date and reduction in fuel prices, we expect sentiments to improve, leading to overall growth in auto sales,” he added.