Mahindra & Mahindra Ltd. (M&M Ltd.) announced robust sales for November 2024, with total volumes reaching 79,083 vehicles, including exports. The growth was led by the strong performance of its Utility Vehicles (UV) segment.
- Utility Vehicles: Domestic UV sales surged 16% year-on-year to 46,222 units (November 2023: 39,981 units). Including exports, total UV sales stood at 47,294 units.
- Commercial Vehicles: Domestic CV sales declined by 5% to 22,042 units, with a mixed performance across sub-segments. Notably, the 3-wheeler segment saw a 22% growth in sales to 8,043 units.
- Exports: Total exports increased significantly by 53% to 2,776 units, reflecting Mahindra’s growing global presence.
According to Veejay Nakra, President of the Automotive Division, “We sold 46,222 SUVs in November, achieving 16% growth. This month also marked the launch of our highly anticipated Electric Origin SUVs—the BE6e and XEV9e—built on the revolutionary INGLO platform. These vehicles represent Mahindra’s vision of ‘Unlimit India,’ pushing the boundaries of design and innovation.”
Year-to-date (April-November 2024) performance:
- Domestic passenger vehicle sales increased by 21% to 3,60,936 units.
- Total exports rose by 17% to 21,009 units.
The company also announced that deliveries for the BE6e and XEV9e Electric Origin SUVs will commence in a phased manner starting late January 2025, with full-scale delivery expected by March 2025.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a financial advisor before making any investment decisions.
