iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Mahindra & Mahindra Drives Growth with 21% YoY Surge in Auto Sales

1 Dec 2023 , 01:59 PM

Mahindra & Mahindra Ltd (M&M) reports a 21% YoY growth in total auto sales for November 2023, reaching 70,576 vehicles compared to 58,303 units in the same month last year. Total passenger vehicle sales surge by 32%, reaching 39,981 units from 30,392 units YoY.

In the Utility Vehicles segment, M&M achieves a 32% growth in domestic sales, selling 39,981 vehicles, and records a total of 40,764 vehicles, including exports.

Domestic sales for Commercial Vehicles stand at 22,211 units, according to M&M’s release. Overall exports experience a 42% decline, dropping to 1,816 units from 3,122 units YoY.

Veejay Nakra, President, Automotive Division, M&M Ltd, attributes the growth to strong demand for the SUV portfolio but notes supply challenges on select parts during the month.

M&M’s Farm Equipment Sector (FES) sees a 5% rise in total tractor sales at 32,074 units, compared to 30,528 tractors sold in November 2022.

Domestic tractor sales increase by 6%, reaching 31,069 units, while tractor exports decline by 25% to 1,005 units YoY.

Hemant Sikka, President – Farm Equipment Sector, M&M, highlights high demand during the festive season, supported by Kharif harvest realizations, with favorable terms of trade for farmers and government spending contributing to the positive market conditions.

For feedback and suggestions, write to us at editorial@iifl.com

 

Related Tags

  • Auto sales
  • domestic sales
  • M&M's
  • Mahindra & Mahindra
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

SBI Card Q4 Profit Slips 20%
25 Apr 2025|11:17 PM
HUL Q4 Net Profit Rises to ₹2,493 Crore
25 Apr 2025|10:59 PM
Sensex and Nifty in Red on April 25, 2025
25 Apr 2025|02:08 PM
Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.