Mahindra Hits All-Time High With Record SUV Sales in October
Mahindra & Mahindra achieves highest-ever monthly SUV sales with 73,338 units in October, driven by festive demand and new product launches.
Mahindra & Mahindra has reached a historic milestone, recording its highest-ever monthly SUV sales in October. The automotive giant moved 73,338 utility vehicles in the domestic market, marking a significant peak for the company. When including exports, the total vehicle sales surged by 9 per cent year-on-year, reaching a staggering 1,31,109 units.
Festive Cheer and Product Innovation
The surge in numbers is attributed to a combination of high festive-season demand and a strategically refreshed product portfolio. Domestic utility vehicle sales saw a 2 per cent increase compared to the 71,624 units sold in October of the previous year. In total, including exports, utility vehicle sales for the month stood at 74,904 units.
"October was a landmark month for us, with SUV sales topping at 73,338 units and total vehicle sales of 1,31,109, both the highest we have ever clocked in a month," stated Velusamy R, President of Automotive Business at Mahindra & Mahindra.
Velusamy R further highlighted that the demand spanned across SUVs, pick-ups, and three-wheelers. A particular point of success was the company's first CNG offering, the XUV 3XO ZNG, which has reportedly gained strong traction among customers.
Growth in Commercial Vehicles and Exports
Beyond the SUV craze, Mahindra's commercial vehicle segment also showed positive momentum. Domestic sales for commercial vehicles grew by 4 per cent, totaling 33,037 units. The most dramatic growth, however, was seen in exports, which skyrocketed by 77 per cent, jumping from 4,015 units last year to 7,102 units this October.
The Trucks and Buses division also reported a strong performance, with sales rising 40 per cent to 2,838 vehicles, up from 2,034 units in the same period last year. Specifically, cargo vehicle sales within this segment saw a massive 62 per cent increase, reaching 2,036 units.
Vinod Sahay, Executive Chairman of SML and President of Aerospace, Advanced Technologies, Trucks, Buses and Construction Equipment at M&M, noted that healthy freight movement, infrastructure-led activity, and festive demand fueled this growth. While expressing confidence in the outlook due to replacement demand and economic activity, he mentioned that rising input and commodity costs remain a factor to monitor.
Farm Equipment: A Calendar Shift
While the automotive side of the business soared, the farm equipment sector faced a slight dip. Mahindra sold 62,626 tractors domestically in October, a 13 per cent decline from the 72,071 units sold a year ago. The company explained that this was primarily due to the shift in the festive calendar, as Diwali fell in November this year rather than October.
Despite the domestic dip, tractor exports grew by 40 per cent year-on-year, with 2,220 units shipped abroad. This brought the total tractor sales, including exports, to 64,846 units for the month.