Mahindra & Mahindra (M&M) reported robust vehicle sales and production figures for October 2024, showcasing substantial growth in both the domestic and export markets. The company achieved a total sales volume of 93,142 units in October 2024, marking a 20.6% year-over-year (YoY) increase from 78,825 units in October 2023. Additionally, exports saw a remarkable rise, reaching 3,506 units compared to 1,854 units last year, reflecting the company’s expanding international footprint.
Key Highlights
- Utility Vehicles (UV):
- The Thar and Thar Roxx diesel models recorded a production volume of 7,969 units, with sales at 7,360 units, showcasing strong demand for the iconic SUV.
- The XUV300 series, including diesel and petrol variants, saw notable figures, with the XUV300 Diesel recording 1,521 units in production and 2,187 units in sales.
- The Scorpio, a popular choice in the UV segment, saw a rise in production and sales across its diesel and petrol variants, with the diesel variant reaching 13,240 units in production and 14,444 units in sales.
- The Bolero Diesel continued to perform well, with 7,216 units produced and 9,849 units sold.
- Electric Vehicles:
- In the electric vehicle segment, the e-Alfa Mini recorded sales of 971 units and the Treo Yaari sold 138 units. These figures reflect M&M’s focus on expanding its footprint in the electric mobility space.
- Commercial Vehicles:
- M&M’s commercial vehicle category reported a total production volume of 27,234 units, with 28,812 units sold in October 2024, up from 25,715 units sold in the previous year.
- Export Market:
- M&M’s export performance demonstrated substantial growth, with key models like the Bolero and Thar contributing to the increased export volume. The total exports rose to 3,506 units, an impressive jump from 1,854 units in October 2023.
Detailed Overview
Mahindra’s diverse portfolio across utility vehicles, electric rickshaws, and commercial vehicles has positioned the company well in both domestic and international markets. The production strategies have enabled M&M to cater to the growing demand across segments while maintaining strong exports.
The company’s emphasis on electric and eco-friendly solutions is evident with the consistent production and sales of electric models such as the e-Alfa Mini and Treo. Furthermore, utility vehicles like the Thar, Scorpio, and Bolero continue to drive M&M’s growth, reflecting their sustained popularity among consumers.
Mahindra & Mahindra’s October 2024 performance underscores its robust market presence, backed by a wide range of models and a strong export strategy. The consistent sales growth in both domestic and export markets, coupled with advancements in electric mobility, positions M&M as a formidable player in India’s automotive industry.
