M&M total sales tumble 52 pc to 17,447 units in May over previous month
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M&M total sales tumble 52 pc to 17,447 units in May over previous monthPTI
Last Updated: Jun 01, 2021, 02:57 PM IST
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Synopsis We are seeing a strong growth momentum for our entire product portfolio. The Thar is clocking robust bookings, despite extended waiting periods. XUV300 has been a tremendous success and continues to see strong demand, M&M Chief Executive Officer Automotive Division Veejay Nakra said.
AP
With the cases coming down and gradual opening up of markets, the company foresees a strong demand rebound.
Mahindra & Mahindra (M&M) on Tuesday said its total sales declined by 52 per cent to 17,447 units in May as compared with April this year on account of lockdown in various states.
Read more about M&M slips 7% as firm expects slower tractor sales growth in FY22 on Business Standard. While growth in tractors is slowing down after robust growth in FY21, M&M s auto segment is expected to see strong momentum in both LCVs and SUVs, brokerage MOSL said
Losses from its international subsidiaries have dropped significantly and free cash flow — cash from operations after deducting capital expenditure — has risen to nearly Rs 6,700 crore in FY21, a multi-year high, as the company continues to adhere to a stringent capital allocation policy.
While the Covid-19 situation is improving in India, other Asian countries are witnessing a rise in infections. This might impact sentiments for Asian markets in general, said an analyst.