Mahindra & Mahindra Auto Sales Surge 16% in Sept, Tractor Sales Show Modest Growth

Mahindra & Mahindra Ltd. (M&M) saw a 16% increase in total auto sales in September 2024, reaching 87,839 vehicles, compared to 75,604 in the same period last year.

In the domestic market, M&M's Passenger Vehicles (PV) sales rose by 24%, with 51,062 units sold, up from 41,267 in September 2023. The utility vehicles segment, including exports, accounted for 52,590 units.

Commercial vehicle (CV) sales also experienced growth, rising 6% year-on-year (YoY) to 33,750 units from 31,918 in the previous year.

“As we enter the Navratri festivities, we are excited to open bookings for the much-anticipated Thar RoXX on October 3rd,” said Veejay Nakra, President of the Automotive Division at M&M.

M&M’s exports surged 25% in September 2024, with 3,027 units shipped, compared to 2,419 units YoY.

Tractor Sales: M&M’s Farm Equipment Sector (FES) reported a modest 2% growth in total tractor sales, reaching 44,256 units last month, up from 43,210 units YoY. Domestic tractor sales increased by 3% to 43,201 units, while exports saw a 10% decline to 1,055 units.

“Monsoon rainfall has improved by 7.5%, boosting Kharif crop sowing, except for cotton. Reservoir levels have recovered and are now 13% above long-period averages, setting the stage for a strong Rabi crop. With favorable rural sentiments and upcoming festivals, we expect robust tractor demand moving forward,” said Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd.

Mahindra & Mahindra Ltd. (M&M) is a leading Indian multinational automotive manufacturing company headquartered in Mumbai, India. Founded in 1945, M&M is part of the larger Mahindra Group, a conglomerate with a significant presence in industries such as agribusiness, aerospace, finance, and information technology. The company is known for its robust portfolio of vehicles, ranging from passenger cars and commercial vehicles to tractors and two-wheelers. M&M is also a global leader in the utility vehicle and tractor segments. With a strong focus on innovation, sustainability, and rural development, Mahindra & Mahindra continues to expand its global footprint, operating in over 100 countries and striving to shape the future of mobility through electric vehicles, clean energy, and cutting-edge automotive technology.

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