In September, Mahindra and Mahindra (M&M) Ltd. witnessed a significant boost in domestic sales, particularly in the sports utility vehicle (SUV) segment, marking a 24% increase compared to the same period last year. The company, a key player in the Indian automotive industry, also reported robust overall growth across all vehicle segments, including commercial vehicles and three-wheelers. This upward trajectory in sales comes as M&M gears up for the festive season, with upcoming bookings for the highly anticipated Thar RoXX. The company's strong performance highlights its solid market presence and strategic positioning in the domestic and international arenas.

Mahindra's SUV Sales Surge by 24% in September

SUV sales hit 51,062 units in September 2024
Mahindra's domestic SUV sales soared by 24%, totaling 51,062 units in September. This represents a remarkable increase from the 41,267 units sold during the same period in 2023. The SUV segment continues to be a major growth driver for the company, reinforcing its dominance in the competitive automotive market.

Overall Sales Exhibit 16% Growth Year-on-Year

Total vehicle sales reach 87,839 units
M&M’s total vehicle sales, including SUVs, commercial vehicles, and three-wheelers, reached 87,839 units, reflecting a 16% year-on-year growth. This demonstrates the company’s broad-based strength across multiple vehicle categories, not just SUVs, indicating a well-rounded performance in various segments of the market.

Strong Performance in Commercial Vehicles and Three-Wheelers

Sales of 36,777 units in CVs and three-wheelers
The company sold 36,777 units of commercial vehicles (CVs) and three-wheelers in September. This includes 3,027 units sold in international markets, further underscoring M&M’s expanding global footprint. The performance of these segments plays a crucial role in the company's overall sales growth.

Optimistic Outlook for Festive Season

Launch of Thar RoXX set to capitalize on demand
With the festive season around the corner, M&M is poised to further accelerate its sales momentum. The upcoming launch of the Thar RoXX, scheduled for October 3, is expected to attract significant consumer interest. This strategic launch is timed to capitalize on the high demand typical of the festive period in India, potentially boosting sales even further.

Leadership’s Positive Outlook

Veejay Nakra emphasizes sustained growth
Commenting on the company’s strong performance, Veejay Nakra, President of the Automotive Division at M&M Ltd., highlighted the impressive 24% growth in SUV sales and overall 16% growth in total vehicle sales. He expressed optimism for the upcoming festive season, emphasizing the importance of the Thar RoXX launch in maintaining the company's growth trajectory.

Mahindra’s solid sales figures and strategic launches demonstrate the company's commitment to staying at the forefront of India’s automotive market, with a diversified portfolio driving both domestic and international success.