SME Times is powered by   
Search News
Just in:   • '35 pc cos pay nil GST, which shows no burden on SMEs'  • Cinepolis Hosts a Special Screening for the Underprivileged Kids  • Dr Amal Al Qubaisi Wins Parliamentarian Excellence Award as Best President of Arab Parliament  • Launch of Life Skills Program  • Google Play Awards 2017 Announced: LIKE Wins 3 Prizes Among Global Competitors 
Last updated: 17 Feb, 2017  

Mahindra.9.Thmb.jpg M&M three-wheeler sales may remain low after note ban

Mahindra.9.jpg
   Top Stories
» FM for strengthening banks to enable them to lend to MSMEs
» Ready to discuss all issues on floor of Parliament: Govt
» Only 13 pc cos use digital to drive both growth, efficiency: Survey
» Impact of GST on SMEs: Mixed reactions from state Finance Ministers
» WPI inflation at 3.93 percent in November
SME Times News Bureau | 17 Feb, 2017
Automobile major Mahindra & Mahindra Ltd (M&M) on Thursday said the sales of its three-wheeler commercial vehicles (CV) are likely to remain low for at least two more quarters.

"Three-wheeler commercial vehicle sales have been taking a beating ever since the demonetisation was announced in November. It is a challenge in the current quarter (January-March) too. I don't see sales picking up before July-September period," said company's Senior Vice President(Sales, Automotive Division) Veejay Nakra.

The auto-maker reported that three-wheeler sales declined 28 percent year-on-year to 3,056 units in January and were down by 11.6 percent year-on-year at 13,344 units in the October-December quarter.

Sales of small commercial vehicles in the 700-1,050 kg payload capacity segment would improve in the current quarter ending March, Nakra said at the launch of a new range of small commercial vehicles under the "Supro" brand.

"Small CV sales (below 1,050 kg segment) have been flat since the last few quarters because of the cash curbs and the lag affect of deficient monsoon for the past two years (2014-15 and 2015-16). But sales in this segment should speed up in the current quarter," Nakra said.

The company expects to increase its current market share of about 10 percent in the 700-1,050 kg payload capacity segment to 30 percent in the next two years.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 16 Dec, 2017
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(13)
» Foreign Trade Policy(6)
» Govt launches public procurement portal for MSEs - MSME Sambandh(1)
» List of items for which anti dumping duties has been levied with related notifications(1)
» India, China to strengthen bilateral trade, investment(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter