Mahindra & Mahindra Reports 32% Growth in Auto Sales for October 2023

1 Nov 2023 , 02:51 PM

Mahindra & Mahindra Ltd (M&M) reported a total of 80,679 vehicles sold in October 2023, marking a 32% growth from 61,114 units in the same month the previous year. Domestic passenger vehicle (PV) sales for M&M in October 2023 increased by 35% to 43,708 units compared to 32,298 units in October 2022.

In the Utility Vehicles segment, M&M achieved its highest sales for the fourth consecutive month, with 43,708 vehicles sold domestically, representing a 36% growth. Overall, the company sold 44,264 vehicles, including exports. Domestic sales of Commercial Vehicles reached 25,715 units, also marking a record high.

However, the company’s total exports during the month declined by 33% to 1,854 vehicles from 2,755 vehicles year-on-year.

Veejay Nakra, President, Automotive Division, M&M, expressed confidence in continued growth momentum due to strong festive demand in November while monitoring supply-related challenges closely.

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