Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, announced robust sales figures for September 2024, driven by strong performance in its SUV and Commercial Vehicle segments.
- SUV sales in the domestic market surged by 24% year-on-year to 51,062 units, contributing to overall sales of 52,590 vehicles when including exports.
- Total vehicle sales for the company, including exports, reached 87,839 units, reflecting a 16% growth compared to the same period last year.
- In the Commercial Vehicle segment, domestic sales stood at 23,706 units.
Veejay Nakra, President of the Automotive Division at Mahindra, commented on the performance, saying, “We sold 51,062 SUVs in September, marking a 24% growth, and overall 87,839 vehicles, with 16% growth. We also launched the all-new VEERO in the LCV<3.5-ton segment, based on India’s first multi-energy modular CV platform, which has received a positive market response.”
Farm Equipment Sector Sales
M&M’s Farm Equipment Sector (FES) also reported strong sales, with domestic tractor sales growing by 3% year-on-year to 43,201 units in September 2024. Total tractor sales, including exports, stood at 44,256 units, a 2% increase over the same period last year.
Hemant Sikka, President of Mahindra’s Farm Equipment Sector, highlighted the positive impact of monsoon rainfall, increased Kharif sowing, and strong reservoir levels on rural demand and farmer sentiment. Sikka said, “With a good Kharif crop and expected robust Rabi crop, rural sentiments are positive, and we anticipate strong demand for tractors in the coming months.”
Exports
Mahindra’s export sales for September 2024 showed a 25% increase, with 3,027 vehicles sold. The company also exported 1,055 tractors, marking a 10% decline compared to last year.
With strong domestic performance and new product launches, Mahindra continues to solidify its position in the Indian automotive and farm equipment sectors.
