M&M, Tata, Toyota report sharp fall in passenger vehicle sales in november

Mahindra & Mahindra, Tata MotorsBSE 0.36 % and Toyota Kirloskar Motors again reported a fall in passenger vehicle sales in the domestic market in November as negative sentiments continued to play spoilsport in the market. 

Utility vehicle major Mahindra & Mahindra's passegner vehicle sales declined 32% to 16,771 units in November from 24,604 units in the same month last year as new compact SUVs such as the Ford EcoSport and Renault Duster continued to eat into its market share. Another factor that has hit Mahindra's sales is the higher excise duty on utility vehicles imposed in the budget 
"After the festive season, the auto industry has turned to further decline and continues to remain subdued," Pravin Shah, chief executive, automotive division, at Mahindra & Mahindra, said. "Unless some concrete measures are provided for its revival, we do not foresee any immediate turnaround," he added. 
M&M's total domestic sales including three-wheelers and commercial vehicles declined 22% year-on-year to 36,261 units in November. The only silver lining for the company was that its exports increased 116% to 2,994 vehicles.