Mahindra & Mahindra Ltd. (M&M) announced its sales figures for the Trucks and Buses segment (vehicles over 3.5T) for September 2025. The combined business, which now includes Mahindra Trucks & Buses Division (MTBD) and SML Isuzu Ltd. (SML) following M&M’s majority acquisition of SML, sold a total of 1,904 vehicles, reflecting an 8% decline compared to the same month last year.
Mahindra Trucks & Buses (MTBD):
In September, MTBD sold 954 vehicles, down 6% from September 2024. Cargo vehicle sales were slightly lower at 742 units (-9%), while passenger vehicles saw a small increase, reaching 212 units (+4%). Year-to-date, MTBD has sold 6,443 vehicles, marking a 3% growth over last year.
SML Isuzu Limited (SML):
SML sold 950 vehicles in September, a 10% decline versus last year. Cargo vehicles dropped to 370 units (-9%), and passenger vehicles were at 580 units (-10%). Despite this, the year-to-date figures are positive, with total sales at 8,145 units, up 7% compared to last year.
Combined Trucks & Buses Business (MTBD + SML):
Together, the trucks and buses business sold 1,904 vehicles in September. Cargo vehicles totaled 1,112 units (-9%), while passenger vehicles reached 792 units (-7%). On a year-to-date basis, the combined sales are 14,588 vehicles, showing a 5% increase from last year.
In summary, while September saw a slight dip in monthly sales, the overall year-to-date numbers indicate steady growth for Mahindra’s expanded Trucks & Buses business.
