Mahindra Sales Report June 2024: Experienced Growth in Export CV Sales

4141 Views

Updated On: 01-Jul-2024 08:30 AM

Explore M&M's sales report for June 2024! In June 2024, their LCVs over 3.5 tonnes, including MHCVs, skyrocketed by 77%, while other categories varied.

Key Highlights:

M&M's LCV sales of over 3.5 tonnes jumped 77% YoY in June 2024.
LCVs under 2 tonnes rose 5% to 3,223 units.
LCVs between 2-3.5 tonnes fell 12% to 14,097 units.
Total export sales increased by 4%, from 2,505 to 2,597.
Other categories had moderate or negative growth.

Mahindra & Mahindra, one of the country's leading automotive manufacturers, has released its commercial vehicle sales report for June 2024. Mahindra, a leading commercial vehicle manufacturer, witnessed a 2.04% decline in domestic CV sales. The sales figures decreased from 27,336 units in June 2023 to 26,778 units in June 2024.

Mahindra is a market leader in the commercial vehicle segment, with decades of experience. Mahindra has a solid reputation in both India and the international market.

Furthermore, the brand has always received positive responses from other countries and has a strong presence in over 100 countries. From small utility vehicles to heavy-duty trucks, Mahindra offers a wide range of options to its wider customer base.

The Mahindra Group is well-known in agriculture, tourism, real estate, logistics, and alternative energy. Let’s take a look at Mahindra’s Truck Sales statistics for June 2024:

Mahindra’s Domestic Sales – June 2024

Category	FY24	FY23	% Change
LCV 2T	3,223	3,063	5%
LCV 2T-3.5T	14,097	16,042	-12%
LCV 3.5T + MHCV	3,274	1,854	77%
Three-Wheeler	6,184	6,377	-3%
Total	26,778	27,336	-2.04%

Category-wise Sales Breakdown

In the fiscal year 2024, sales in different vehicle categories showed varied trends compared to fiscal year 2023:

LCV<2T: 5% Growth

The LCV <2T category experienced a Growth of 5%, with sales reaching 3,223 units in June 2024 compared to 3,063 units in the same month last year.

LCV 2 T–3.5 T: 12% Decline

In this segment, sales declined by 12%, dropping to 14,097 units from 16,042 units in June 2024.

LCV > 3.5T + MHCV: 77% Growth

The LCV > 3.5T + MHCV category experienced an impressive growth of 77% to 3,274 units in June 2024 from 1,854 units in June 2023.

3 Wheelers (Including Electric 3Ws): 3% Decline

The three-wheelers category, including electric three-wheelers, saw a decrease in sales. Three-wheeler vehicle sales decreased by 3% to 6,184 units in June 2024 from 6,377 units in June 2023.

Mahindra’s Exports Sales – June 2024

Category	FY 24	FY23	% Change
Total Exports	2,597	2,505	4%

Mahindra experienced growth in Export CV Sales in June 2024. The company exported 2,597 units in June 2024, compared to 2,505 units in June 2023 and experienced growth of 4%.

Also Read: Mahindra & Mahindra Sales Report for May 2024: Highlights Strong Performance in Heavy Vehicle Category

CMV360 Says

Mahindra & Mahindra's latest sales report for June 2024 shows a noticeable trend: while their heavier commercial vehicles saw a big jump in sales, LCV segment faced challenges.

This mix of growth and decline highlights the complexity of the market they operate in. Despite a slight dip in domestic sales overall, their increase in export numbers indicates a strategic focus on international markets.