Mahindra & Mahindra Ltd. (M&M Ltd.), a prominent player in India’s automotive sector, has reported its overall auto sales for March 2024 at 68,413 vehicles, reflecting a 4% increase, inclusive of exports.
In the Utility Vehicles segment, Mahindra achieved sales of 40,631 vehicles in the domestic market, marking a robust 13% growth, and a total of 41,161 vehicles including exports. Domestic sales for Commercial Vehicles reached 20,930 units.
Mahindra & Mahindra Ltd. (M&M Ltd.) passenger vehicle sales for March 2024:
- Utility Vehicles: Sales reached 40,631 units, marking a 13% increase compared to the same period last year. Year-to-date (YTD) sales for Fiscal Year 24 (F24) stand at 459,864 units, reflecting a significant 29% growth compared to the previous fiscal year (F23).
- Cars + Vans: No sales were reported for this category in March 2024, resulting in a 100% decrease from March 2023. YTD sales for F24 amounted to 13 units, compared to 2,292 units in F23, representing a 99% decrease.
- Total Passenger Vehicles: Combined sales of utility vehicles, cars, and vans totaled 40,631 units in March 2024, showing a 13% increase from March 2023. YTD sales for F24 reached 459,877 units, marking a 28% growth compared to F23.
Mahindra & Mahindra Ltd. (M&M Ltd.) domestic commercial vehicles and three-wheelers sales for March 2024:
- LCV < 2T: Sales reached 4,012 units in March F24, indicating a 19% increase compared to March F23. Year-to-date (YTD) sales for F24 stand at 44,093 units, reflecting a 9% growth compared to F23.
- LCV 2T – 3.5T: There were 13,601 units sold in March F24, showing a 22% decrease from March F23. However, YTD sales for F24 amounted to 191,603 units, which is a 3% decrease compared to F23.
- LCV > 3.5T + MHCV: Sales in this category surged to 3,317 units in March F24, marking a remarkable 126% increase from March F23. YTD sales for F24 reached 27,114 units, representing a substantial 170% growth compared to F23.
Mahindra & Mahindra Ltd. (M&M Ltd.) exports for March 2024:
- Total Exports: Exports amounted to 1,573 units in March F24, indicating a 26% decrease compared to March F23. Year-to-date (YTD) exports for F24 stand at 24,663 units, reflecting a 23% decrease compared to F23.
Veejay Nakra, President of the Automotive Division at M&M Ltd., expressed, “We are concluding the fiscal year F24 on a positive note with Mahindra PikUps surpassing 2 lakh units, a record high for any commercial vehicle in India’s load segment. In March, our SUV sales totaled 40,631 units, demonstrating a 13% growth, and overall vehicle sales amounted to 68,413 units, representing a 4% growth compared to the previous year.”