Mahindra & Mahindra Ltd. reported a strong overall sales performance in December 2025, supported by healthy domestic demand across automobiles, farm equipment, and commercial vehicles, even as exports showed mixed trends across segments.
Overall automobile sales snapshot for December 2025
Mahindra’s total auto sales for December 2025 stood at 86,090 vehicles, marking a 25% year-on-year increase when exports are included. This total covers utility vehicles, light commercial vehicles below 3.5 tonnes, three-wheelers, and export volumes. The company also closed calendar year 2025 with its highest-ever volumes in SUVs and LCVs under 3.5 tonnes, reflecting sustained domestic momentum.
Domestic passenger vehicle performance
In the domestic market, utility vehicles remained the key growth driver. Mahindra sold 50,946 utility vehicles during December 2025, registering a 23% year-on-year increase compared with the same month last year. Passenger vehicle volumes were entirely driven by utility vehicles, as cars and vans recorded no sales during the period. On a year-to-date basis up to December, domestic passenger vehicle sales rose 18% year-on-year.
Commercial vehicles and three-wheelers in India
Domestic commercial vehicle sales showed robust growth, led by higher demand for heavier light commercial vehicles. LCVs in the 2 to 3.5 tonne category recorded a 37% year-on-year increase in December, while LCVs below 2 tonnes grew by 13%. Three-wheeler sales, including electric models, rose 31% compared to December 2024. On a cumulative basis, year-to-date growth remained positive across most categories, although LCVs below 2 tonnes saw a marginal decline compared to the previous year.
Export performance in the auto segment
Export volumes for Mahindra’s auto business declined on a monthly basis in December 2025. Total exports stood at 2,820 units, down 9% year-on-year. However, the longer-term trend remained favourable, with year-to-date exports rising 25% compared to the same period last year, indicating gradual recovery in overseas markets.
Farm equipment business shows strong domestic and export growth
Mahindra’s Farm Equipment Business delivered one of its strongest performances in December 2025. Domestic tractor sales reached 30,210 units, a 37% year-on-year increase, supported by improved rural cash flows, favourable crop yields after the Kharif harvest, and higher Rabi sowing. Total tractor sales, including exports, stood at 31,859 units, reflecting a 39% increase. Tractor exports grew sharply by 78% during the month, highlighting strong international demand. Year-to-date tractor sales rose 21% in both domestic and total volumes.
Trucks and buses business maintains growth momentum
Mahindra’s Trucks and Buses business, including MTBD and SML Mahindra, recorded sales of 2,260 vehicles in December 2025, a 43% year-on-year increase. Cargo vehicles grew 40% while passenger vehicles rose 48% during the month. Both MTBD and SML Mahindra contributed to this growth, with SML Mahindra posting particularly strong gains across cargo and passenger segments. On a year-to-date basis, trucks and buses sales increased 13% compared to the previous year.
