M&M Oct sales down 18% YoY; shares trim gains

MUMBAI: Mahindra & Mahindra's sales in the month of October dropped 18 per cent from a year ago period.

The auto major registered total vehicle sales of 20,282 vehicles in October 2008 as against 24,652 in the same period last year. Domestic sales slid 16 per cent to 19,899 from 23,551 in Oct 2007.

Exports were the worst hit, registering 65 per cent fall. Sales of Mahindra-Renault's joint venture vehicle Logan was down 52 per cent while the company's tractor sales grew 3 per cent to 11,539 vehicles from 11,186 a year ago.

Shares of the company trimmed early gains and were trading at Rs 376, up 0.98 per cent