Mahindra & Mahindra Accelerates Sales, Up 20% in October

4 Nov 2024 , 12:45 PM

Following a 19.79% increase in global auto sales to 96,648 vehicles sold in October 2024 compared to 80,679 vehicles sold in October 2023, Mahindra & Mahindra shares saw an increase of 1.11% to Rs 2,848.20.

In comparison to the 87,839 cars sold in September 2024, Mahindra & Mahindra’s (M&M) total auto sales increased 10.03% month over month in October 2024.

The company sold 54,504 utility vehicles in the domestic market, representing a 25% year-over-year increase, and 55,571 cars total, including exports.

In October 2024, the business sold 28,812 commercial vehicles (LCV+MHCV), a 12.04% increase over the 25,715 units sold in October 2023. In October 2024, sales of three-wheelers, including electric three-wheelers, increased 5% year over year to 9,826 units.

3,506 vehicles were exported during the month, representing an 89% YoY increase.

Additionally, the company’s Farm Equipment Sector (FES) reported that October 2024 saw 65,453 tractor sales (domestic + exports), up 29.71% from October 2023’s 50,460 units.

From 49,336 units sold in October 2023 to 64,326 units sold in October 2024, domestic tractor sales increased by 30.38%. Exports of tractors rose slightly to 1,127 units in October 2024 from 1,124 units in the same time the previous year.

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