Thar, Bolero, Scorpio and More Assist Mahindra Record 36% Year-over-Year Sales Growth in October

Mahindra & Mahindra Ltd. has revealed its sales figures for the previous month. In October 2023, the domestic behemoth reported selling 80,679 units (Passenger and Commercial Vehicles), including exports, which is a 32% increase over the same period in 2022. The proud manufacturer also fared well in the utility vehicle market, recording the highest-ever sales for a fourth consecutive month. It delivered 43,708 SUVs in the home market, showing a 36% rise. However, including exports, the auto giant sold 44,264 units in total. In addition, the firm delivered 43,708 passenger vehicles in the domestic market, representing a 35% gain from the same period the previous year. With 25,715 units sold domestically, the commercial vehicle segment witnessed remarkable growth in October. Let's explore the company's other sales performance-based highlights in more detail.

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Mahindra October 2023 Sales: Export and YTD Sales Figures 

Compared to 2,755 units shipped at this time last year, the overall exports for October decreased by 33% to 1,854 units. However, the year-to-date data indicates a significant 13% decline in total international shipments. The automaker's existing year-to-date export total is 16,170 vehicles. Coming to the company's year-to-date sales numbers, the automaker sold 2,58,622 passenger vehicles in the domestic market in FY24, as opposed to 2,01,021 in FY23, representing a notable increase of 29%. 

Veejay Nakra, President of, the Automotive Division, M&M Ltd said., “In October, we clocked the highest ever volumes at 80,679 vehicles, a growth of 32%. Both SUVs and CVs individually achieved highest 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 on select supply-related challenges.”

Mahindra September 2023 Sales: Key Highlights 

For the third straight month, Mahindra sold the greatest number of SUVs ever in September. When comparing September 2023 to the same month in the previous year, the automaker's domestic sales increased by 20% to 41,267 vehicles from 34,262 units. Furthermore, compared to the 2,538 units exported in the same month in 2022, Mahindra shipped 2,419 units overseas in September, which showed a 5% decrease.

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The company's total automotive sales in September, which included exports, rose by 17% to 75,604 units. Moreover, the automaker sold 23,997 units in the commercial market in September.