The company had sold 55,722 units in the same month last year, M&M said in a statement.
In the domestic market, sales were down 3 per cent at 50,785 units last month compared to 52,500 units in January 2018.
Exports dropped by 45 per cent to 1,761 units as against 3,222 units in the year-ago month.
In the passenger vehicles segment -- which includes utility vehicles (UVs), cars and vans -- it sold 19,797 vehicles in January this year, against 23,872 vehicles in the same month last year.
In the commercial vehicles segment, the company sold 22,851 vehicles as against 22,625 units in the year-ago month.
"Our performance in January has been relatively muted as part of our strategy to start ramping down BS-IV manufactured vehicles and move to BS-VI emission norms," said M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said.
The company has also started rolling out its first batch of BS-VI vehicles with the XUV300, which has been very well received by the consumers, he added. MSS RUJ