Mahindra & Mahindra Achieves Record-High Monthly and Quarterly Sales Across Automotive and Tractor Divisions

16 Oct 2023 , 02:20 PM

Mahindra & Mahindra (M&M) achieved a milestone with its highest-ever monthly automotive sales, totaling 64,486 vehicles in September 2022, reflecting a remarkable 129% growth compared to the previous year. The quarterly sales figures are equally impressive, reaching an all-time high of 179,673 vehicles, showcasing a substantial 77% growth compared to the same period last year.

In the utility vehicles segment, M&M achieves a significant milestone, recording the highest monthly sales of 34,262 SUVs, marking a substantial 166% growth over the previous year and establishing itself as the industry’s leading UV player.

The passenger vehicles segment, including utility vehicles, cars, and vans, also experiences substantial growth, with September 2022 sales reaching 34,508 vehicles, representing a remarkable 163% YoY increase from the 13,134 units sold in September 2021.

The company also witnesses a surge in commercial vehicle sales, with 21,666 units sold in September 2022, a substantial growth of 128.83% compared to the 9,468 units sold in the same month last year. Additionally, 3 Wheeler sales, including electric 3Ws, soared by 94%, reaching 5,774 units in September 2022 from 2,981 units sold in the same period the previous year.

M&M’s export numbers for the month stood at 2,538 vehicles, reflecting a marginal 0.36% YoY increase.

Veejay Nakra, President, Automotive Division, M&M, expresses enthusiasm over the strong start to the festive season in September, highlighting robust demand and exceptional performance across the company’s product portfolio, particularly in SUVs and LCVs.

Additionally, Mahindra & Mahindra’s Farm Equipment Sector (FES) reports a substantial 21% YoY surge in total tractor sales, amounting to 48,713 units in September 2022, compared to 40,331 units in September 2021.

Domestic tractor sales play a significant role in this growth, witnessing a 21% increase to 47,100 units, while tractor exports also rise by 26%, reaching 1,613 units during the same period.

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra, underscores this outstanding performance, highlighting the highest-ever monthly domestic tractor sales of 47,100 units, driven by strong demand during the festive season and positive sentiment with promising Kharif crop harvest and improved reservoir levels. The export market also contributes to this success, with a 26% growth in tractor sales.

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