Mahindra & Mahindra Ltd. (M&M Ltd.), announced a growth of 19% in its overall auto sales which stood at 70,350 vehicles, including sports, for the month of August 2023.
In the Utility Vehicles segment, Mahindra sold its highest-ever number of SUVs which included 37,270 vehicles in the domestic market, and an overall of 38,164 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 23,613 units.
"We are excited to witness another record month, as we clocked our highest-ever SUV domestic sales of 37,270 in a month with a growth of 26%. We also registered an overall growth of 19% for August. While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semi-conductors and select parts, for sustained and smooth scaleup," said, Veejay Nakra, President, Automotive Division, M&M Ltd. in a company statement.
Passenger Vehicles Sales Summary (Domestic) – August 2023
As per the latest sales data, the sales of utility vehicle sales jumped to 37,270 units in August 2023, from 29,516 units in August 2022, showing a growth of 26% in sales. The Year-to-Date (YTD) figures show the sale of utility vehicles reaching 1,73,637 units, from 1,32,790 units last year, reflecting a remarkable 31% surge in its sales.
However, the car and van segment faced a downfall with its sales dropping to 0 units in the Financial Year 2024 (FY24) as compared to 336 units in FY23. Similarly, the YTD figures show a major drop of 1,415 units in the sale of cars and vans in FY24.
Commercial Vehicles and 3-Wheeler Sales Summary (Domestic) – August 2023
In the commercial vehicles and 3-wheeler sales category, the sales of (Light Commercial Vehicles) LCV<2T is 3896 in FY24 which is the same as the FY23. The LCV 2 T – 3.5 T sales are 18,768 units in F24 compared to 16,940 in F23 with an 11% change.
The LCV > 3.5T + MHCV category sales reached 949 units in F24 against 646 units in F23 with a 47% change. The 3-wheelers (including electric 3Ws) sales were 7044 units in F24 against 4793 units with a change of 47%
Exports – August 2023
The total exports in FY24 August were at 2423 units against 2912 units in FY23, with a decrease in change of 17%.
Mahindra
The Mahindra Group is one of the largest and most admired multinational federations of companies with 260,000 employees in over 100 countries. Being one of India’s leading automotive companies, it enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India and is the world’s largest tractor company by volume.
It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, to drive positive change in the lives of communities and stakeholders to enable them to rise.
Learn more about Mahindra at www.mahindra.com
