By Priya Singh
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:
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:
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%.
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.