Mahindra Auto records highest ever SUV sales of 43,708 vehicles, a 36% growth and highest ever total volumes of 80,679 in October 2023
Auto
Mumbai, November 01, 2023: Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its overall auto sales for the month of October 2023 stood at 80,679 vehicles, a growth of 32%, including exports.
In the Utility Vehicles segment, Mahindra recorded the highest sales for the fourth consecutive month. In October, the company sold 43,708 vehicles in the domestic market, a growth of 36% and overall, 44,264 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 25,715 units, also the highest-ever.
According to Veejay Nakra, President, Automotive Division, M&M Ltd., “In October, we clocked the highest ever volumes at 80,679 vehicles, a growth of 32%. Both SUVs and CVs individually achieved highest ever volumes for the third consecutive month at 43,708 and 25,715 vehicles respectively. While the strong festive demand should see us continue our growth momentum in November, we will keep a close watch of select supply related challenges.”
| Passenger Vehicles Sales Summary (Domestic) – October 2023 | ||||||
|---|---|---|---|---|---|---|
| Category | October | YTD October | ||||
| F24 | F23 | % Change | F24 | F23 | % Change | |
| Utility Vehicles | 43708 | 32226 | 36% | 258612 | 199278 | 30% |
| Cars + Vans | 0 | 72 | -100% | 10 | 1743 | -99% |
| Passenger Vehicles | 43708 | 32298 | 35% | 258622 | 201021 | 29% |
| Commercial Vehicles and 3 Wheelers Sales Summary (Domestic) – October 2023 | ||||||
|---|---|---|---|---|---|---|
| Category | October | YTD October | ||||
| F24 | F23 | % Change | F24 | F23 | % Change | |
| LCV < 2T * | 4335 | 4562 | -5% | 24964 | 26170 | -5% |
| LCV 2 T – 3.5 T | 20349 | 15728 | 29% | 123077 | 112988 | 9% |
| LCV > 3.5T + MHCV | 1031 | 690 | 49% | 7434 | 4898 | 52% |
| 3 Wheelers (including electric 3Ws) | 9402 | 5081 | 85% | 48628 | 30661 | 59% |
| Exports – October 2023 | ||||||
|---|---|---|---|---|---|---|
| Category | October | YTD October | ||||
| F24 | F23 | % Change | F24 | F23 | % Change | |
| Total Exports * | 1854 | 2755 | -33% | 16170 | 18511 | -13% |
* Includes sales made by subsidiary company Mahindra Last Mile Mobility Limited w.e.f. September 01, 2023
About Mahindra
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/newsroom
Media contact information
Nayana Borthakur
Head - Communications
Automotive & Farm Equipment Sector
Mahindra & Mahindra Limited
Email - [email protected]
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