Mahindra & Mahindra (M&M) reported a robust 17% surge in total vehicle sales in May 2024, reaching 71,682 units, including exports. This increase underscores the company’s strong performance across its utility vehicles and passenger car segments.
In the utility vehicles (UV) segment, Mahindra recorded a notable 13% rise in domestic sales, totaling 43,218 vehicles. When including exports, the overall sales in this segment amounted to 44,283 units.
The passenger vehicle (PV) segment saw a remarkable growth of 31%, with sales climbing to 43,218 units compared to 32,886 units in May 2023. This significant increase highlights the rising demand for Mahindra’s passenger cars.
Additionally, domestic sales of commercial vehicles (CV) reached 19,826 units, contributing to the overall sales growth. In the three-wheeler category, Mahindra posted a modest 2% growth, with sales increasing to 5,967 units from 5,851 units recorded in the same period last year.
Exports also saw a 2% uptick, with 2,671 units shipped in May 2024, compared to 2,616 units in the previous corresponding period.
Mahindra further reported a substantial 17.5% increase in total domestic passenger vehicle sales, reaching 69,099 units compared to 58,799 units year-on-year. Total tractor sales also showed positive momentum, accelerating by 9% with 37,109 units sold, up from 34,126 units a year ago.
Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, M&M, expressed his satisfaction with the company’s performance. “Our strong sales growth in May reflects the increasing demand for our utility and passenger vehicles. We continue to focus on delivering innovative and reliable products that meet the diverse needs of our customers.”
Mahindra & Mahindra’s performance in May 2024 highlights its strategic growth in key vehicle segments, driven by its commitment to quality and customer satisfaction. The company’s consistent sales growth signals a positive outlook for the coming months.
